Lipke upbeat on Gibraltar’s growth

The recession took a huge toll on the various business segments of Gilbraltar Industries as it hunkered down, notably housing and infrastructure. The Buffalo-based company shuttered factories including reducing employees and overhead costs – all with the goal of generating cash it could use when things turned around.

Brian Lipke, the chairman and CEO of Gibraltar Industries Inc., gave a presentation at Gibraltar’s annual shareholders meeting today and said that things have turned around.

On the back of a recovering housing market, Gibraltar is poised for a fourth straight year of growth in net income and sales, which drives demand for its various products ranging from gutters to roofing supplies.

According to Buffalo Business First:

“Projections of increased investment in the country‚Äôs aged public infrastructure and a spike in postal products as online shopping continues its central place in retail sales.”

The meeting was held at the Gateway Building on Lake Shore Road, off Route 5 and Lipke mentioned “Because of all these factors and our improving momentum, I believe 2014 will be our fourth consecutive year of growth.”

The company has once again begun making acquisitions. The company currently holds about $80 million in cash and $200 in liquidity. Lipke expects the sales growth in the 4 – 7 percent range.

Interested in reading the full story? Please click the link below.

[Buffalo Business First]

Be Sociable, Share!

Leave a reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>