Newsletter #260 (View other news stories)
After 56 years, Industrial Truck Sales shuts down
GREENSBORO, NC, United States
Thursday, 18 May 2006
by US correspondent Roger Renstrom
Long-time US forklift dealer Industrial Truck Sales & Service Inc has ceased operations and is "in the process of going out of business", says owner Denny Boyce.
His father, George W Boyce, founded the North Carolina business in 1950.
"Have you heard of ‘The Perfect Storm’?" Denny Boyce asked, referring to the 2000 movie. "That explains how things went" for Industrial Truck in recent years. (In the movie, an unusually intense storm pattern catches some commercial fishermen unaware, putting them in mortal danger.)
Boyce said 1999 was Industrial Truck’s best year. "We had USD42 million in sales and 320 employees."
Then the firm’s principal forklift supplier, Clark Material Handling Company, went bankrupt, and previously dominant furniture and textile industries "deteriorated, especially in North Carolina", Boyce said. Clark has continued as Industrial Truck’s main forklift supplier.
Until now, Industrial Truck employed 120 people and operated North Carolina facilities in Greensboro, Charlotte, Elm City and Wilmington for sales and leasing of new and used materials handling equipment and parts and maintenance services. The firm handled allied equipment, such as racks and lifts.
"The lawyers are in it" now, Boyce said. There was a possibility another forklift dealer may "take over the company" assets.
However the named dealer told Forkliftaction.com News he had no interest in Industrial Truck or its market.
In addition to the Clark line, Industrial Truck represented Linde Material Handling North America in the eastern part of North Carolina and had business relationships with other forklift and equipment brands, including Daewoo, Drexel, Big Joe, B&P, Capacity, Mastercraft, Ridg-U-Rak, Atlet, JLG and Prime Mover.
Industrial Truck is "a company with a long, honourable history and big troubles", said Les Holbert, Industrial Truck CEO.
www.industrialtruck.com
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