Graco Inc. (GGG - Free Report) recently introduced a new line of power rewind hose reels for oil, gas, mining, construction and other markets.
The new range of power rewind hose reels -- XD 60, XD 70 and XD 80 -- are designed for improved safety and performance. The new XD power rewind reels offer innovative direct drive motor, which is safer for operators and are more competitive in comparison to other similar products. The drive unit requires minimum maintenance and has a longer life without the requirement for any lubrication maintenance.
The XD series of hose reels provided by Graco have a durable design suitable for harsher environments and faster operations. The XD Series is ideal for rugged, indoor and outdoor use in heavy-duty truck dealerships, fleet maintenance, mining maintenance, public works garages, construction vehicle maintenance and heavy-duty service trucks.
The design of these reels is such that it has fewer pinch points, which reduces the chance of injury. It is easier for distributors to stock components as they can provide better and faster servicing to customers due to its modularity.
Moving forward, Graco expects to continuously invest in its businesses to diversify and expand its product ranges to augment its position in the market.
Headquartered in Minneapolis, MN, Graco supplies technology for management of fluids in both industrial and commercial applications. The company designs, manufactures, and markets systems that move, measure, control, dispense, and apply fluid materials. The company’s key growth drivers include development and marketing of new products, expansion of the global distribution network, foraying into new markets with technology and channel expansion.
Graco currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth considering now are Dover Corp. (DOV - Free Report) , EnPro Industries, Inc. (NPO - Free Report) and DXP Enterprises, Inc. (DXPE - Free Report) , each carrying a Zacks Rank #1 (Strong Buy).