02.05.2005

PM reports 30 percent increase in revenues.

PM Group, which claims to be the fourth largest lorry loader producer in the world and parent of Oil&Steel, has announced 2004 revenues of €93 million a 30 percent increase over 2003. Total production for 2004 exceeded 5000 units for the first time.

During 2004 the PM group set out to invest in additional company stores, adding to it's UK operations. New wholly owned distribution outlets were opened in the United States, France and Spain.

A new fabrication facility was opened in June 2004 in Arad, Romania bringing heavy fabrication work that was previously subcontracted into the group. The company says that this move was intended to help improve both availability and quality.

Other significant investments included the computerisation of the spare parts operation which includes a new automated warehouse installation, along with an innovative system of palm computers and wireless printers. This upgrade has enabled PM Group to substantially improve delivery times for spare parts.
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The PM group opened a branch in the USA in 2004 and exhibited at the recent Conexpo show

PM says that its outlook for 2005 is very positive, with further growth expected in both revenues, profitability and market share.