JLG transitions to Oshkosh ownership

News Story
- 14 Dec 2006 ( #290 ) - OSHKOSH, WI, United States
1 min read
Oshkosh Truck Corp has completed its acquisition of JLG Industries Inc, making the telehandler manufacturer its largest business segment (Forkliftaction.com News #282).

The USD3.2 billion all-cash transaction was completed on December 6, ending JLG's status as an independent company publicly traded on the New York Stock Exchange.

Oshkosh has named its executive vice president and chief financial officer (CFO) Charles L Szews interim JLG president.

Szews said: "The similar cultures and shared values of our organisations are integral to [the merger] process."

Eight teams with members from Oshkosh and JLG would lead the integration effort, focusing on short and long-term objectives, he said.

JLG is the 15th acquisition under current Oshkosh Truck management over 10 years. Oshkosh has added segments of the specialty vehicle and body markets to complement its defence truck business. The company reported profit of USD205.5 million on sales of USD3.48 billion for the fiscal year ended September 30 and employed 9,387 people on that date.

Two top executives have left JLG to "pursue other opportunities", Oshkosh said in a statement. William M Lasky was JLG board chairman, president and CEO, and James H Woodward Jr was JLG executive vice president and CFO.

JLG senior vice presidents Craig Paylor, Peter Bonafede and Wayne MacDonald were expected to continue with the JLG segment, the statement said. At JLG, Paylor oversaw sales and marketing, Bonafede manufacturing and supply chain management and MacDonald engineering.

Pennsylvania-based JLG, established in 1969, reported profit of USD149.3 million on sales of USD2.29 billion for the fiscal year ended July 31 and employed 4,088 people on that date.
Also Read:
Hellmann acquires PKZ Group
Hellmann acquires PKZ Group 8 Jun 2023 - Osnabrueck, Germany - 1 min read
Mollo Noleggio acquires PMP
Mollo Noleggio acquires PMP 1 Jun 2023 - Turin, Italy - 1 min read
Cargotec plans Kalmar-Hiab separation
Cargotec plans Kalmar-Hiab separation 4 May 2023 - Helsinki, Finland - 1 min read
Previously about:
Rental firm commits to 50 telehandlers News Story - 11 Apr 2013 - Independence, OH, United States - 1 min read
Product News News Story - 2 Dec 2010 - 2 min read
JLG substitutes metal for plastic on some hoods News Story - 14 Oct 2010 - McConnellsburg, PA, United States - 1 min read
Do you have materials handling news? Submit your news here

Showcased in the Virtual Expo

SNDC, manufacturer of electric air conditioning systems, will exhibit at TOC Rotterdam (13-15 June, Booth G.60) and Inter Airport Munich (10-13 October).
We are pleased to introduce our new range of electric air conditioners, especially with heat pump technology, and refrigerant service stations for reefer containers.
SNDC is well known for their innovative solutions, don’t hesitate to visit us at these trade shows dedicated to Terminal Handling.

Visit sndc.net.

Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Keep your workforce & warehouse infrastructure safe with ELOKON’s range of safety, assistance, & warning systems for forklift trucks & AGVs. Ensure optimum productivity & fleet utilization as well as reduced downtime with the cloud-based forklift fleet management system, ELOfleet. Along with other products from the global leader in industrial vehicle safety, these are based on the use of smart technology to prevent accidents & improve material handling procedures.


Inside The News
The move to electrification continues, with reports this week of a UK distribution and logistics service provider investing in a fleet of low-emission electric forklifts... Continue reading

Showcased in the Virtual Expo

Exide Technologies heavy-duty Tensor battery

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

“After advertising with Forkliftaction.com, we got many enquiries regarding interest to be our distributor. Mostly from Europe and USA but including a few in ASEAN. We feel that the advertisement was useful and good for market expansion.”

When Laurence Xu, Assistant Sales Manager for Showa Denko used a simple TextAd in search of distributors he was pleased with the results.

To learn about Forkliftaction's audience and advertising options: Download the MEDIA KIT.