A Terex Girolift 5022 telehandler.

Terex Corp CEO Ronald DeFeo sees the pending combination of Oshkosh Truck Corp and JLG Industries Inc and their pricing leverage as a positive for his company.

As disclosed on October 16, Oshkosh, of Oshkosh, Wisconsin, plans to buy JLG by mid-January (Forkliftaction.com News #282).

Oshkosh and JLG "are going to have to be good at integration and pretty good at getting pricing in the marketplace, which can only be a positive for us because price discipline is important in our category", DeFeo said.

"With strong buyers, it is important to have strong sellers", such as Oshkosh-JLG and Terex. "We view the JLG market position as similar to ours. We both have good strong shares in the major rental companies and good strong positions globally.

"JLG is a quality company and an excellent competitor so [linking with Oshkosh] is a good combination from an industry point of view," DeFeo said.

For the fiscal year ended July 31, JLG, of McConnellsburg, Pennsylvania, reported sales of USD1.16 billion for aerial work platforms and USD776 million for telehandlers.

Through the third quarter, ended September 30, Westport-based Terex reported sales of USD1.58 billion for its aerial work platforms segment, including its European telehandler business.

Terex has appointed Tim Ford as president of Terex Aerial Work Platforms. He succeeds Robert R Wilkerson, who continues as Terex executive vice president and chief change officer.

Under changes that were effective from October 15, JLG amended severance and corporate change-in-control arrangements with its executive officers.

JLG CEO Bill Lasky will now receive three times his annual compensation ― rather than the previous two times ― if there is an involuntary termination of employment without cause or a voluntary termination for good reason.

Key JLG executives Craig Paylor, Thomas Singer, James Woodward and Peter Bonafede Jr would receive two times annual compensation ― rather than one time ― under comparable termination scenarios. Four other executives would be eligible for two times annual compensation, according to JLG's filing with the US Securities & Exchange Commission.