Newsletter #140 (View other news stories)
JLG INVESTS IN FRANCE
McCONNELLSBURG, PA, United States
Thursday, 15 Jan 2004
JLG Industries Inc has agreed to buy the remanufacturing inventory and equipment of Acces Industrie, in Tonneins, France, for EUR2 million (USD 2.49 million).
JLG said it had signed a letter of intent and the transaction was expected to close early this year.
Under the deal, JLG will sublease from Acces a 2,500-square-metre (27,000-square-foot) facility built in 2001 for maintenance and repair of aerial work platforms. JLG also leases a 7,400-square-metre (80,000-square-foot) facility in Maasmechelen, Belgium, housing boom lift, scissor lift and telehandler operations.
JLG saw "a significant opportunity in Europe for reconditioning services as an alternative to new machine purchases", said Israel Celli, JLG vice president of international sales, marketing & customer support.
The pending transaction "builds on our successful JLG Equipment Services remanufacturing model in North America". For the year ended July 31, 2003, sales in Europe accounted for USD145.0 million, or 19%, of JLG's total business.
Founded in 1996, Tonneins-based Acces operates more than 20 rental agencies in France, Spain, Luxembourg and Portugal.
|
CURRENT NEWS
|
