Industrial goods manufacturer Graco Inc. (GGG - Free Report) recently introduced a portfolio of new hose reels to better serve the maintenance requirements of heavy-duty vehicles used in mining, construction, and fleet maintenance. The products are currently available for sale in North America and are expected to be launched in the overseas market in the immediate future.
Heavy-duty vehicles used in construction and mining usually store a huge volume of fluids, thereby consuming high infill time. The new breed of XD 40 and XD 50 hose reels are expected to increase fluid flow rates by capitalizing on patent-pending exclusive swivel design that reduces pressure drop, thereby augmenting the efficiency of the equipments by consuming comparatively less infill time.
In addition, the new products are manufactured with corrosion resistant materials for high longevity and are seasoned to sustain the extreme operating conditions that are encountered while servicing the equipments. The standard models are also equipped with factory-installed hoses to save additional labor and installation time.
Headquartered in Minneapolis, MN, Graco provides indigenous 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. Its products are widely used for the application of paints and coatings, for the high-pressure cleaning of equipment, and for the lubrication and maintenance of vehicles and other equipment.
Graco offers its products through distributors, integrators, original equipment manufacturers, auto parts stores, home centers, sales force, and direct sales generalists in North America, South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company’s key growth drivers include the development and marketing of new products, expansion of the global distribution network, opening up of new markets with technology and channel expansion and the completion of strategic acquisitions.
However, Graco faces stiff competition from other players in the market such as Altra Holdings, Inc. (AIMC - Free Report) , The Babcock & Wilcox Company , and EnPro Industries, Inc. (NPO - Free Report) , each carrying a Zacks Rank #1 (Strong Buy). Graco presently carries a Zacks Rank #3 (Hold).