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Wednesday, October 28, 2009

Quiet Christmas for Gehl: Manitou Predicts Q4 Sales to be Low Point

Workers at Gehl may not get back to full hours any time soon: parent company Manitou saw third quarter revenue drop 47%. Manitou expects rotten sales to continue through the fourth quarter. But on the bright side, Manitou president and CEO Jean-Christophe Giroux sees orders picking up a little and sales perhaps picking back up in 2010.

Madison's sidelined Gehl workers aren't the only one hoping sales have hit bottom and are ready to bounce back: Manitou has cut 35% of its workforce just this year.

Digging for more bright side? Turn perhaps to Australia, where distributor LiftRite signed a long-term agreement this month to carry Gehl skid loaders. Long-term—let's hope that's the key word!

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