JCB Celebrates 65th Birthday with Restored Earnings

JCB Celebrates 65th Birthday with Restored Earnings

SAVANNAH, GA (June 21, 2011) —JCB today officially marked its 65th anniversary by presenting thousands of employees around the world with gifts to mark the occasion. The milestone was celebrated as JCB also reported a strong recovery from the deepest-ever recession in the global construction equipment industry with a return to robust earnings.

Employees received a bottle of Château Léoube rosé wine, two glasses and a DVD highlighting the global footprint of a company. The celebration took place to coincide with the 95th anniversary of the birth of JCB's founder, the late Joseph Cyril Bamford.

Current JCB Chairman Sir Anthony Bamford said: "In 65 years we've gone from one man in a garage in Uttoxeter, Staffordshire, to a major global brand renowned for its pioneering spirit. All of this is down to our people. JCB is on the threshold of even greater success and it's our employees who will help drive our future."

Today JCB also reported that in 2010 earnings before interest, tax, depreciation and amortization (EBITDA) reached $376 million (up dramatically from 2009's depressed $151.2 million level). Sales in 2010 increased by 48% to $3.2 billion ($151.2 billion in 2009) and in 2010 JCB sold 51,600 machines (36,000 machines in 2009).

"The pace and strength of the recovery varied by market," said Sir Anthony. "Growth was strongest in the 'BRIC' countries (Brazil, Russia, India and China) and other developing economies, but some established markets, notably the UK and Germany, also performed satisfactorily.

"2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery. We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011."

In 2011 JCB will be investing more than £20 million ($32 million) in modernizing and increasing capacity at its 11 UK plants. The company is also investing in a new 350,000 sq. ft. factory in Sao Paulo, Brazil, for the manufacture of backhoe loaders and tracked excavators. The plant will become operational in early 2012. The company has also opened an engine manufacturing plant in India which went into production this year.

JCB has 18 plants on four continents: 11 in the UK, three in India and others in the USA, China, Germany and Brazil and employs around more than 7,000 people worldwide.

JCB is privately-owned by the Bamford family and today is run by the Chairman, Sir Anthony Bamford, son of the company's founder, Joseph Cyril Bamford.

The company manufactures more than 300 different machines including:  backhoe loaders; telescopic handlers; tracked and wheeled excavators; wheel loaders; articulated dump trucks; rough terrain fork lifts; mini excavators; skid steers loaders; compaction equipment; generators and groundcare equipment. In addition, for agricultural markets, the company produces a range of telescopic handlers and the Fastrac tractor. JCB also manufactures the Teletruk forklift for the industrial sector.

In 2005, JCB secured one of the largest orders in its history when it won a $290 million deal to supply the U.S. Government with High Mobility Engineer Excavators (HMEEs). Full scale production of the HMEE is now underway at JCB's plant in Savannah, Ga.

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