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May, 1958

KOEHRING COMPANY...a leading manufacturer of a wide range of construction and industrial machinery...regards its Product Development Program as one of the most important factors necessary to achieve the Company's long-range objective of serving expanded markets and increasing the penetration in existing markets...Shipments in the first quarter of 1958 were 34 per cent below the 195 level, and net income was $1,000,* compared with $568,000 a year earlier. After preferred dividend requirements, a deficit equal to 4 cents per common share was reported, compared with 35 cents per share earned in the firs quarter of 1957...Management feels an upturn will begin to develop within the next six to twelve months...and it also believes its reputation for quality, the Product Development Program, and the Company's policy of retaining all key operating personnel will enable KOEHRING to shift quickly into higher production when the anticipated upturn in demand begins.


KOEHRING COMPANY was incorporated in 1907. Its operations are international in scope. Domestic sales are effected through a distributor organization consisting of 235 dealers, and foreign income is received in the form of royalties from manufacturing and engineering contracts, and from sales made by 81 agencies and branches in 60 countries in the Eastern and Western Hemispheres. Management is organized along line and staff functions. The Central Office staff, located in Milwaukee, comprises the top executive group which is concerned primarily with over-all policy decisions and planning. Each operating unit is integrated fully under the direction of divisional managements. The divisions and subsidiaries are:

KOEHRING DIVISION — Milwaukee, Wisconsin. This Division, which includes the Milwaukee Koehring and the Chattanooga Koehring Southern manufacturing facilities, produces a diversified line of construction equipment: power shovels and cranes; "Dumptor" earth moving vehicles; smaller excavators; and concrete pavers and longitudinal finishers. All of these products are used by highway and general industrial contractors who recognize the trade names, "Heavy Dkuty K" and "Dumptor," as representing premium quality equipment with high performance standards.

THE HYDRAULIC PRESS MANUFACTURING DIVISION — Mount Gilead, Ohio. "H.P.M." manufactures plastic injection molding machines and hydraulic and mechanical metal working presses and components.

KOEHRING INTER-AMERICAN and KOEHRING EXPORT — These Divisions are responsible for the company's world-wide sales and manufacturing activities.

KOEHRING-WATEROUS LTD. — wholly-owned subsidiary — Brantford, Ontario. The Canadian subsidiary produces many of KOEHRING's heavy construction machines, and asphalt plants and pulp mill equipment as well.

C. S. JOHNSON — wholly-owned subsidiary — Champaign, Illinois. This subsidiary is an important producer of automatic concrete mixing and batching plants, clamshells and related cement handling equipment.

PARSONS DIVISION — Newton, Iowa. Parsons manufactures "Trenchliner" and "Trenchmobile" ditch digging machines used by public utilities, pipe line and sewer contractors and in other underground work.

KOEHRING CALIFORNIA DIVISION v Stockton, California. The California Division, which purchased Clark's Welding Works in February, 1958, is a servicing and parts facility for the Pacific Coast and also manufactures "Ko-Cal" sand, gravel and stone bins.

BUFFALO-SPRINGFIELD ROLLER DIVISION — Springfield, Ohio. "B.S.R." is a producer of "Kompactors," which are segmented-surface wheeled compacting machines, and other rolling machines, including the three-axle tandem roller with the "Walking Beam" design.

KWIK-MIX DIVISION — Port Washington, Wisconsin. This Division manufactures small cement and plaster-mortar and bituminous mixers. It also manufactures the "Moto-Bug" and other materials handling equipment for the construction industry.

Note* All quarterly figures in this report are as reflected on the Company's books and are subject to year-end audit.

de witt conklin
Stockholder and Financial Relations
New York · Dallas · Los Angeles · San Francisco

The information contained and any opinions expressed in this BULLETIN have been furnished and approved by the management of the above Company. It is released and distributed in the interest of developing closer relations among the Company, its stockholders and the financial community.

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