Minneapolis, Minnesota — Polyurethane spray equipment manufacturer Graco, saw sales for 2016 3% higher than 2015 at $1.33 bn compared to $1.29 bn.
Graco said that over the year, there was a 2% rise in sales in the Americas, 7% in EMEA and 3% in Asia Pacific. Currency effects reduced sales by around $12 m for the year.
In the industrial segment, which includes spray foam machinery, sales were up 2% including rises of 6% in both the EMEA and Asia Pacific which were partially offset by decreases 3% in the Americas. Operating margin rates did not change year to year. In the course of 2016 sales and in the industrial segment were $630 m. This translated into operational earnings of $207 m compared with operational earnings of $202 m in 2015, the company said.