Wednesday, August 31, 2022
Graco Inc., a producer of fluid handling equipment announced the acquisition of 20 acres of land close to its current Anoka in Minnesota location. The purchased property is situated northwest of Graco and south of Bunker Lake Boulevard. Graco is likely to make investments in this now-vacant site to accommodate a sustained future growth as the company’s operations expand.
Distributors, representative agencies, material suppliers and final customers are some of the clients that Graco’s Lubrication Equipment Division collaborates with. There are various teams that do a variety of tasks:
Anoka the new focus of growth
According to Peter O’Shea, President of the Worldwide Lubrication Equipment Division and President of South and Central America, over the last few years Graco’s Lubrication Equipment Division has predominantly invested back into its business through new technology and machines. The company will be able to expand their business and manufacturing capacities thanks to the new property purchase in Anoka, which will provide them with the much needed expansion space.
For the management of fluids in commercial and industrial applications, Graco Inc. provides the necessary technology and knowledge. Systems and equipment that transfer, measure, regulate, dispense, and spray fluid and powder materials are designed, produced, and marketed by this company. The Minneapolis-based Graco services clients in the manufacturing, processing, construction, and maintenance sectors all over the world and is a renowned player in its specialities. Its second-quarter 2022 adjusted earnings of 68 cents per share beat the Zacks Consensus Estimate by a penny. The bottom line improved 10% year over year. The $549 million in net sales for GGG above the $535 million Zacks Consensus Estimate. The Industrial and Process segments delivered strong results, driving the top line up 8% year over year. Sales growth was influenced by effective pricing and volume increase.