EDMONTON, Alta. — Raydan Manufacturing has seen its sales surge 68 per cent en route to record revenues for the 2005 fiscal year, the company reports.
Raydan is best-known in the trucking industry for its Air Link air ride walking beam suspension. The company says demand for the suspension is up sharply among OEM and end users in the vocational, oilfield, military and fire/rescue sectors. The company is expanding its operations to keep up with the increased demand.
The company’s revenues rose to $11.3 million for the fiscal year ended Apr. 30, 2005. That compares to $6.7 million the previous year. Net earnings were more than $650,000 for the period. The company says sales of its Air Link suspension doubled during fiscal 2005.
Raydan says the Class 8 market for its Air Link suspension is experiencing record high order volumes and international markets are just now starting to be tapped.
The company has built a new chassis modification centre which increased the size of its facility to more than 47,000 sq. ft. It has also recently appointed a new chief engineer as well as additional engineering staff.
“Raydan’s efforts were more fully recognized by the international truck industry in fiscal 2005,” said president and CEO Ray English. “We entered into a global licensing agreement with ArvinMeritor, Inc., North America’s largest axle manufacturer. They will be manufacturing and marketing our rear Air Link suspension to the commercial truck, trailer, specialty and military OEM markets for vehicles up to 52,000 lbs., while we continue to manufacture and market the Air Link(TM) for crane chassis, custom retrofit and all other applications over 52,000 lbs.”
The company says it hopes to reach $17 million in revenue for the current fiscal year.
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