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Gorman-Rupp Co. Message Board

  • gd_mannukaden gd_mannukaden Aug 31, 2011 7:39 PM Flag

    Gorman-Rupp Expects 'Good 2nd Half' On Strong Pump Orders -CEO

    By Ralph E. Winter
    For DOW JONES NEWSWIRES
    MANSFIELD, Ohio (Dow Jones)--Gorman-Rupp Co. (GRC) is receiving strong orders for its pumps in many major markets, leading management to expect "a good second half," President and Chief Executive Jeffrey S. Gorman said.

    "We are very pleased with the incoming order rate," Gorman told Dow Jones Newswires.

    Unusually severe flooding problems this year are adding to demand for the company's high-capacity pumping systems, he said.

    European demand is lower than a year ago, as business executives worry about government financial problems, Gorman said. And orders from U.S. municipal water and sewer systems "are pretty stagnant" because of financing problems in many communities, he said.

    However, the pump manufacturer is receiving strong orders from industrial, oil and gas, mining and construction-related businesses in North America, Asia, the Middle East and other markets, Gorman said, reflecting a generally improving global economy.

    Gorman-Rupp plants are operating at very efficient rates, Gorman said. A record order backlog of $154.2 million will keep Gorman-Rupp plants operating at near-capacity levels through any seasonal or other temporary market dip, Gorman said.

    http://online.wsj.com/article/BT-CO-20110829-708312.html

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28.74-0.51(-1.74%)Feb 27 4:02 PMEST

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