Revenue of $678.7 million was down slightly compared to last year, as revenue gains in the Engineered Support Structures, Utility Support Structures and Coatings segments were offset by lower sales in Irrigation and unfavorable currency impacts of $12.6 million (1.9% of sales).
Valmont Industries announced its board of directors has named Stephen G. Kaniewski as president and chief executive officer effective Dec. 31, 2017, the first day of Valmont's fiscal 2018. Kaniewski will succeed Mogens C. Bay.
Irrigation Segment sales declined 9% to $158.5 million mostly due to reduced North America irrigation equipment and tubing sales. Irrigation equipment sales in North America were pressured by a reduction in net farm income.
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