WAUKESHA, Wisconsin, Agustin A. Ramirez, HUSCO International’s Chairman and Chief Executive Officer, announced today that it has added more than 175 jobs over the past 12 months while achieving record levels of sales in 2004. HUSCO International, Inc. is a privately owned manufacturer of hydraulic and electro-hydraulic controls for the automotive and off-highway equipment markets.
HUSCO, which was formed as a result of a management buyout in 1985, recorded sales increase of approximately 35% the past year. Sales increases were driven by new programs with industry leaders including CNH, Caterpillar, McCormick, Terex, Grove, NACCO, Deere, and other major equipment manufacturers of off-highway equipment coupled with very strong markets which increased approximately 25% last year. This substantial growth will create the need for additional facilities during the next 12 to 24 months, and a number of options are being evaluated.
HUSCO has manufacturing facilities in Runcorn, England, Shanghai, China, Whitewater, Wisconsin and Waukesha, Wisconsin. HUSCO completed major expansions in 2001 and 2002 which added approximately 80,000 Sq Ft of space to its China and Whitewater facilities. The new facilities will be operating near capacity by the end of 2005.
The employee additions in 2004 took place predominantly in HUSCO’s newly expanded Whitewater facility and its manufacturing facility in Waukesha. HUSCO expects industry growth in 2005 to approximate 10% to 15% which will result in additional employee growth at HUSCO’s facilities in Whitewater and Shanghai.
HUSCO employs approximately 900 employees worldwide. Total consolidated sales are approximately one quarter of a billion dollars per year, and customers are major equipment manufacturers in both the off-highway and automotive markets. Products are proprietary hydraulic and electro-hydraulic controls for the off-highway equipment market, high performance suspension system controls for the automotive market, and engine management controls for CAM phasing and cylinder deactivation for major automotive manufacturers. HUSCO is a global leader in virtually all major market segments in which it participates and has established its leadership position by providing superior performing products at globally competitive prices. Approximately 50% of HUSCO sales are outside the U.S., and exports from its U.S. based facilities comprise half of these sales.
New Expanding Whitewater, Wisconsin Facility
