IT’S NOT YOUR EVERYDAY industrial sector: motion.
But that’s what the many products of Altra Holdings Inc. have in common: They are used in a wide variety of machines and processes that move.
From elevators to wind turbines, lawn mowers to warships, Altra’s 20 companies make products that propel and harness the movement that powers industry. The company’s clutch brakes are used to start and stop farm combines and oil drills; its gears rotate gun turrets in armored Humvees and power agitators in water treatment facilities; its coupling devices connect wind turbine propellers to shafts, turbines to generators.
Altra itself is also in motion, expanding its global reach through both organic growth and acquisitions. That growth fueled Altra’s rise to be number three on this year’s Globe 100, and the top industrial company on the list.
In 2011, the company purchased a leading European manufacturer, Bauer Gear Motor, for $69 million. Combined with strong demand from the mining and energy sectors, that acquisition pushed Altra’s 2011 revenue to $675 million, 30 percent over the previous year. Even without counting the Bauer acquisition, revenue was up 17 percent. And net income soared to $38 million for 2011, a 54 percent jump over the previous year, with a profit margin of 5.6 percent, well above 2010.
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