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’s 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.
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