Manitou aims to boost synergies with Gehl
Thursday, 15 January 2009
Waco, TX, United States
Managers at Manitou Group's North American unit in Waco and recently acquired Gehl Co are moving quickly to develop synergies between product lines and manufacturing capabilities. The entities are establishing various internal focus groups, reviewing departmental and operational structures and exploring ways to benefit the Manitou, Gehl and Mustang brands.
Manitou Group subsidiary Tenedor Corp launched a friendly tender offer for Gehl on 7 September (Forkliftaction.com News #377)
and completed the USD450 million transaction on 24 October.
Now, Manitou is seeking to boost marketing of Gehl skid-steer loaders and other equipment globally and use the Gehl distribution network in the US to reach the agricultural market with Manitou telehandlers, probably under the Gehl brand in North America.
Gehl is based in West Bend, Wisconsin and makes telescopic handlers and asphalt pavers in Yankton, South Dakota, and skid steer loaders in Madison, South Dakota.
At one of the South Dakota plants, Manitou North America may manufacture Manitou-designed telehandlers with US-sourced components by early 2010. Other Manitou manufacturing occurs in France, Italy and China.
The Manitou Group, which is based in Ancenis, France, would like to double Gehl sales revenue in the next three to five years.