Strong quarter for Buhler
Strong demand, ongoing product development and a declining Canadian dollar helped Winnipeg agricultural equipment manufacturer Buhler Industries produce another solid quarter.
Although total revenue of $68.9 million was down 9.2 per cent for the first quarter ending Dec. 31, 2014, compared with last year, profits were up 42 per cent to $4.7 million.
In a statement, the company said it expects to maintain its 2013 sales level throughout 2014.
The company expects export sales to grow due to a weaker Canadian dollar and because of the company's ongoing pursuit of new markets.
Exports drop in December
Manitoba's manufacturing industry ended 2013 on a sour note, with December shipments down nearly four per cent from the previous month, Statistics Canada said Friday.
The agency said the province's manufacturers shipped out $1.26 billion worth of goods during the month. That was a decline of 3.9 per cent from November's total of $1.31 billion, although it was still a 0.9 per cent improvement from a year earlier when $1.25 billion worth of goods were sold.
As a result of the slow finish, sales for the year fell 0.5 per cent short of 2012's total -- $15.5 billion versus $15.6 billion.
The December slowdown was part of a broad trend that saw sales fall in seven of the 10 provinces. Prince Edward Island had the largest percentage decline, at 5.8 per cent, followed by Manitoba.
Despite the decline, manufacturing sales have risen in six of the last eight months and were 2.7 per cent higher than in December 2012, it added.
Cangene sale approved
Shareholders of Cangene Corp. have approved the sale of the company to Emergent BioSolutions of Rockville, Md.
The sale, which was originally announced in mid-December, was approved by 99.95 per cent of the votes cast at a shareholder meeting in Toronto on Wednesday.
The acquisition will be implemented through a plan of arrangement under Canadian law, under which Cangene shareholders will receive $3.571 per share ($3.24 U.S.) in cash, for an aggregate purchase price of $245 million ($222 million U.S.).