Insight on Manufacturing

w w w.in s i g h t o n m f g . c o m November 2020 • /INSIGHT ON MANUFACTURING | 33 PLANT|NEWS Oshkosh Corp. sees lower sales, income due to coronavirus The coronavirus pandemic decreased sales and income for Oshkosh Corp., but the company overall remains in a strong financial position, according to the manufacturer's fourth quarter and 2020 annual results. For the fiscal fourth quarter, Oshkosh, which makes defense vehicles, fire and emergency vehicles, commercial vehicles and access equipment, reported a net income of $100 million, compared to $150 million during the same period last year. Consolidated net sales in the fourth quarter of fiscal 2020 decreased 18.7 percent to $1.78 billion largely as a result of a 39 percent decrease in sales in Oshkosh's access equipment segment as the COVID-19 pandemic continued to impact demand for construction-related equipment. For fiscal 2020, Oshkosh posted net sales of $6.86 billion and a net income of $324.5 million compared to $8.38 billion and $579.4 million in fiscal 2019. "As demonstrated by our solid performance in the fiscal fourth quarter, Oshkosh team members continued to work hard and delivered strong results in the face of adversity and global uncertainty caused by the COVID-19 pandemic," Oshkosh Corp. CEO Wilson R. Jones said in a statement. "We responded to changing markets across the globe by taking swift actions to control costs and deliver value to our customers across numerous essential businesses." The reduction in net incomes for fiscal 2020 compared to fiscal 2019 was the result of the impact of lower consolidated sales volumes due in large part to the COVID-19 pandemic, an adverse product mix, adverse absorption as a result of lower production and higher favorable cumulative contract adjustments in fiscal 2019. The company did not release an outlook for fiscal 2021, but Jones said "we are staying close to our customers and will respond to opportunities that arise. We are confident in the long-term potential of our end markets and will continue to rely on our People First culture as we persevere through the current environment." Bay Port High School receives technical education award UA 400 Pipe Trades, the Mechanical Contractors Association and Miller Electric recognized Bay Port High School with the Excellence in Technical Education Award. The award is presented to a high school in Northeast Wisconsin for its commitment to technical education and participation in the UA 400 Youth Apprenticeship program. The group plans to honor more high schools in 2021, with each school receiving a Miller Wire Feed Welder courtesy of Miller Electric. Award recipients demonstrate effective approaches to stimulating student learning with more classes, offering challenging work-based learning experiences, and increasing student postsecondary and O P T I M A M A C H I N E R Y C O R P O R AT I O N is a subsidiary of Optima Packaging Group, headquartered in Schwäbisch Hall, Germany. Incorporated in Green Bay in 1985, with a small handful of employees, Optima Machinery Corp. was the first Optima subsidiary outside of Germany. The office began as a way to produce and provide replacement parts for Optima machines in the country. The first U.S. office was a former fire station in Ashwaubenon, rented for less than 10 employees. In the early 1990s, it became apparent the U.S. location was growing rapidly and needed more space. The office where Optima Machinery Corp. is currently located was built in 1991. At this time, about 10 Optima employees worked in the Green Bay office. Since 1991, the office has expanded twice, with the most recent expansion in 2017. Optima Machinery Corp. has continued to grow rapidly and now provides its own line of multi-pack bagging machines built out of the Green Bay office. Optima also has refurbishment programs for components in the consumer and pharmaceutical industries and still maintains the sales and service relationship with the German headquarters, providing spare parts, maintenance and installation services for all Optima machines in the U.S. and Canada. Today, Optima Machinery Corp. employs over 70 employees out of the Green Bay office. The corporate headquarters has also grown substantially since the U.S. office opened. There are now multiple subsidiaries in Germany as well as in France, Italy, the United Kingdom, Mexico, Brazil, China, India, Japan, Malaysia and South Korea. Optima Packaging Group employs more than 2,500 employees worldwide and builds innovative packaging machine solutions with state-of-the-art technology. Optima designs and builds packaging and filling machines as well as complete production lines for pharmaceutical, consumer, nonwovens and life science products. Optima is excited to be celebrating 35 years in Green Bay. OPTIMA MACHINERY CORPORATION INFORMATION 1330 CONTRACT DR. GREEN BAY, WI 54304 (920) 339-2222 OPTIMA-PACKAGING.COM C E L E B R A T I O N

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