Newsletter #144 (View other news stories)
JLG AHEAD IN TRANSFER OF TELEHANDLER WORK
McCONNELLSBURG, PA, United States
Thursday, 12 Feb 2004
JLG Industries Inc has completed its transfer of telehandler production from Port Washington, Wisconsin, to McConnellsburg, Pennsylvania, ahead of an aggressive integration schedule.
Production in Port Washington was discontinued on January 16, slightly ahead of the projected timetable.
"The transfer of the remaining production of government telehandlers marks the successful completion of the first phase of our integration plan," chairman Bill Lasky said.
Work on machines for the US Marine Corps started on December 29 and for the US Army on January 26. Transfer of the government work represents the balance of telehandler production associated with JLG's August 1 OmniQuip acquisition.
JLG acquired the OmniQuip business unit of Textron Inc for USD105.4 million, including USD5.4 million for transition expenses, USD90 million in cash and USD10 million for an unsecured subordinated promissory note due on August 1, 2005.
JLG moved SkyTrak and Lull telehandler production in October and November, respectively.
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