EDMONTON, Alta. — Edmonton’s Raydan Manufacturing is enjoying continued success as it achieved record revenues for the 2004 fiscal year and the fourth quarter.
The company’s record-setting year was largely due to increased demand for its Air Link air ride walking beam suspension which has gained market acceptance by both OEMs and end-users. Revenues increased 11 per cent to $6.7 million for the fiscal year ending Apr. 30, 2004 while unit sales jumped 28 per cent.
Fourth quarter revenues skyrocketed 39 per cent to $2.2 million compared to the same time period last year. The company’s share prices increased which is in contrast to a small loss recorded during the corresponding period last year.
“Fiscal 2004 has been a tremendous year of growth for Raydan,” says president and CEO Ray English. “We have all worked long and hard to create and develop unique products for the heavy transportation industry and this year received more confirmation that we have succeeded. Air Link was tested and chosen by the US and Canadian militaries, commercial truck manufacturers like International Truck and Engine Co., Mack Trucks, Inc. as well as by many other specialty OEMs in the fire/rescue and construction industries. We look forward to even more widespread acceptance this year as we expand operations to meet the rising demand.”
A forecasted increase in Class 8 truck sales of between 25 and 40 per cent is bound to improve Raydan’s bottom line even more. Most recently, Raydan announced it is teaming with ArvinMeritor who has already begun marketing and manufacturing the Air Link suspension.
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