Raymond Corporation's former chairman, George G Raymond Jr, died on January 5 at age 83.

He was president of Raymond from 1953 to 1977 and chairman of the Greene-based company from 1978 to 1994.

During his tenure the corporation's annual revenue grew from USD5 million to USD230 million, and its shares became publicly traded on the Nasdaq Stock Market.

Raymond's president and chief executive Jim Malvaso said George Raymond was "truly an industry innovator".

"The values and philosophies he instilled at Raymond remain a big part of this company today. He took care of his employees, his customers and his community," he said.

George Raymond Jr spearheaded the development of the industry's first battery-powered, narrow-aisle trucks, providing warehouses greater efficiency and capacity to store materials.

He started work in the drafting department at age 14 and, over his 56-year career with the company, held positions varying from sales manager to assistant to the president.

He started the company's first employee profit-sharing program and pioneered a participative management philosophy that empowered employees.

In 1953, he succeeded his father George G Raymond Sr as president.

In 1965, with a start-up cheque of USD150, he and his father formed the Raymond Foundation, now a multi-million-dollar charitable organisation.

Raymond Jr was a founding member of the Family Firm Institute in 1980, and author of the book All in the Family Business - A Personal Memoir and Corporate History.

His wife, a sister, six children and stepchildren, 11 grandchildren and four great-grandchildren survive him.