Bucher Municipal, a division of Bucher Industries, is acquiring 100% of the Chinese sewage tanker manufacturer Zynkon. This allows the division to access the growing Chinese market for sewage cleaning vehicles and to strengthen its presence in Asia.
Bucher Industries increased sales by 28% to CHF 686 million in the first three months of 2012. Companies acquired in 2011 contributed 8% to this good performance. The high level of the order book at the turn of the year was an important factor in achieving this strong growth. The order intake of CHF 586 million was 9% lower year on year.
The shareholders attending today's annual general meeting of Bucher Industries AG approved all the board of directors' proposals. In addition to the regular agenda items, the shareholders approved the re-election of Claude Cornaz and Heinrich Spoerry to the board, as well as a capital reduction through cancellation of 2.99% of the shares.
In the 2011 financial year, Bucher Industries was able to further increase earning power, despite the strength of the Swiss franc. With strong demand and capacity utilisation at a high level, Bucher Industries increased operating profit by 26% to CHF 190 million. The operating profit margin rose from 7.4% to 8.1%. Profit for the year was CHF 127 million, 30% higher than the previous year. The board of directors is proposing a dividend of CHF 4.00 per share to the annual general meeting of 12 April 2012.
Bucher Industries achieved a substantial increase in sales and order intake in the 2011 financial year, despite significant negative currency effects. Sales growth was 27% in local currencies, and the Group started 2012 with the order book at a high level. For 2011, the Group expects a percentage increase in both operating profit and profit for the year on a par with the first half of the year.