ARGO Tractors makes profitability gains in 2012
Mon 15/07/2013
Despite challenging market conditions and the trauma of an earthquake in 2012, the manufacturer of Landini, McCormick and Valpadana tractors continued to improve its profitability through increased efficiencies.ARGO Tractors SpA and its subsidiaries recorded a 19% improvement in net operating result of €10 million (€8.4 million in 2011) on revenues of €472.9 million – a level similar to the preceding year of €479.1 million.
“Despite weakness in markets where ARGO Tractors has always performed particularly well, we are able to report a positive business trend and satisfactory operating results,” says Valerio Morra, chairman of the ARGO Group. “In May 2012, we faced disruption when an earthquake struck the area in which ARGO Tractors operates. It halted production for a time but the dedication shown by our employees ensured that we overcame the negative effects of this event.”
ARGO Tractors operates four factories in northern Italy manufacturing components and assembling tractors from 35hp to 230hp. It has distribution companies in a number of important export territories, including Europe, South Africa and the Americas.
The tractors are distributed in Great Britain by AgriArgo UK from offices and a parts distribution centre at Harworth, near Doncaster, South Yorkshire. The Landini and McCormick products are retailed through separate dealer networks, with the specialist Valpadana tractors handled by both.
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