Dear reader,
WELCOME TO FORKLIFTACTION.COM,
MATERIALS HANDLING ONLINE.
This is issue #92 - 30 January
2003 of the weekly newsletter for industry
professionals.
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1.
HATS OFF TO RE-EMERGENT CLARK MHC 
LEXINGTON, United States
Young An
Hat Company Ltd (YAHC) of Buchsan, South Korea, will
acquire Clark Material Handling Companys assets, and
about USD10 million in debt, for USD7.5 million
tomorrow.
YAHC was the successful bidder in an
auction for Clarks assets.
The transaction ends
Clarks bankruptcy, which it filed under Chapter 11 of
the US Bankruptcy Code in April 2000, listing USD349
million in assets and USD374 million in
debts.
YAHC plans to operate Clark by basing its
manufacturing operation in Korea and the sales office
and headquarters in Lexington, Kentucky,
USA.
Clark chief executive Kevin Reardon told
Forkliftaction.com that an unsuccessful bidder, a New
York equity bank, had planned to dismantle the
company.
Five companies submitted bids and
deposits by the January 22 deadline, but three dropped
out before the auction in Wilmington, Delaware, USA, on
January 24. One group couldnt show an ability to close
the deal, Mr Reardon said.
The US Bankruptcy
Court in Kansas City, Missouri, USA, authorised YAHC to
proceed with its bid on January 27. YAHC chairman, chief
executive and founder Sung Hak Baik was present
throughout the proceedings, said Mr Reardon, who will
remain as Clark chief executive under the new
ownership.
Mr Reardon first became acquainted
with YAHC through a Korean financial group that had
worked to restructure Clarks debt in Korea during the
companys bankruptcy. Mr Reardon was president of
Clarks Korean operations for more than four
years.
When a buyout deal with Sun Capital
Partners Inc collapsed on December 23, a call to YAHC
sparked interest. We got on a plane on December 27 and
spent a week with them, Mr Reardon said.
YAHCs
bid provides USD5 million to pay debtor-in-possession
financing, USD1.5 million for professional and legal
services and USD1 million for administrative
claims.
At the end of the bankruptcy, Clark had
total debt of about USD252 million, including USD150
million owed to bond holders, USD50 million to trade
creditors and the remainder in other claims. It is
unclear what will happen to these debts under the new
ownership.
Mr Reardon said Clark booked sales of
USD220 million last year and projected a 20 percent
sales increase this year, with Clarks parts business
returning to normal.
YAHC, formed in 1959, is the
worlds largest hat manufacturer, and has diversified
holdings including hotels, farm equipment, a supermarket
chain and multiple bus manufacturing businesses. The
company employs more than 4000 people and has projected
2003 sales of USD750 million.
Clark has built
more than one million forklifts over 85 years, selling
multiple product lines through more than 550 dealers
worldwide.
-
Clark website -
2.
QFS AUSTRALIA EXPANDS VICTORIAN PRESENCE
MT WAVERLEY, Australia
QFS Australia
Pty Ltd, part of the TVH Group, of Belgium, has acquired
Affordable Parts Pty Ltd, a leader in the Victorian
forklift spares market.
QFS Australia chief
executive Steve Cunliffe said the acquisition was
finalised on January 20. The purchase price was not
disclosed.
The acquisition of Affordable Parts,
a fast-growing local business with huge potential,
expanded QFSs existing presence in
Victoria.
Affordable Parts founder and managing
director Perry Mougos, who continues as business
development manager with QFS, said all staff had been
retained.
Joining a progressive company like
QFS was very exciting and ensured Affordable Partss
customers would continue to receive excellent customer
service and support, Mr Mougos said.
This move
means our customers have access to a much greater range
and number of forklift spares, but can be assured of
even better support.
Mr Mougos, formerly a parts
manager at one of Australias largest forklift
dealerships, founded Affordable Parts in December 2000,
quickly developing the business into a strong force in
the Melbourne market.
Mr Cunliffe said the
acquisition further broadened QFSs customer base,
allowed a better focus on customer service, and ensured
the companys status as the largest all-makes forklift
spares company in Australia.
- QFS Australia
website -
3.
SMH TAKES ON OMG DISTRIBUTORSHIP
DEWSBURY, United Kingdom
Forklift
hirer SMH Ltd has reached an agreement with Italian
forklift maker OMG-srl to exclusively import and
distribute its warehouse forklifts in the United
Kingdom.
SMH managing director Roy Fewster said
the distributorship was a very exciting development
for the company, which previously distributed Clark
products, and ended an 18-month search for a
supplier.
We needed exclusive access to a range
of warehousing equipment and ... although we were aware
of the OMG range, we were looking at several
manufacturers, keeping our options open, he
said.
It wasnt until the Hannover show (CeMAT,
April 2002), where we saw the OMG trucks close-up and
were able to compare them with other manufacturers, that
we decided to progress further.
Mr Fewster said
OMG had been looking for a partner in the United
Kingdom, and SMH, with its existing dealers and large
customers, was ideal.
OMG, based in Gonzaga,
northern Italy, started producing forklifts in 1983. Its
70-model range includes reach trucks, four way reach
trucks, rough terrain reach trucks, powered pallet
trucks and stackers, order pickers, electric
side-loaders and electric counterbalanced
forklifts.
- OMG
website -
4.
BRIGHTER YEAR PREDICTED, DESPITE PHILIPPINE
CHALLENGES
MAKATI CITY, Philippines
The
Philippine forklift industry expects 2003 to be a better
year than 2002, which distributors said was the worst
year ever.
However, several forklift dealers told
Forkliftaction.com that the continuing depreciation of
the foreign exchange rate and the impending war in Iraq
could adversely affect the economy. The Philippine peso
has fallen to 53.70 pesos to the USD from 50 pesos last
year.
Ronald Roa, account executive at Monark
Equipment Corporation, which distributes Mitsubishi and
Caterpillar forklifts, said another industry concern was
an influx of used forklifts from Japan.
The
second-hand forklifts, referred to as surplus units,
were priced way below the prevailing market price for
new machines, selling for as low as 100,000 pesos
(USD1800), compared to new machines selling for 800,000
pesos (USD14,800), Mr Roa said.
Despite the
challenges, Mr Roa was confident Monark would increase
its forklift sales this year.
- Monark website -
5.
PROPANE FUEL SYSTEM STUDY LAUNCHED
WASHINGTON, United States
The
Propane Education & Research Council (PERC) has
awarded USD1.39 million to the Southwest Research
Institute for a study of propane fuel system
technologies.
The study also involves determining
the ability to comply with coming US Environmental
Protection Agency standards relating to large,
spark-ignited, non-road engines. Work will begin
immediately, with initial results expected by the end of
this year.
The institute, based in San Antonio,
Texas, was selected from five organisations which
applied for the grant. The grant demonstrates both the
propane industry's commitment to the forklift market,
and its proactive efforts to ensure propane continues to
be one of the cleanest and most cost-effective fuels for
forklifts, said PERC president Roy
Willis.
Industrial Truck Association executive
director Bill Montwieler said emissions regulations
already in place in California made the research project
especially important.
As manufacturers of
industrial trucks and their components and attachments,
ITA members are vitally interested in this project, he
said.
Research objectives include investigating
closed-loop carburetion, central fuel injection and port
fuel injection technologies, and exploring the effects
of liquid petroleum gas fuel quality variation on
emissions.
- PERC website -
6.
FORKLIFT USED IN RAM RAID
BASINGSTOKE, United Kingdom
Police
are looking for brazen thieves who used a forklift to
smash open a warehouse vault and steal GBP200,000 of IT
equipment this month.
The ram-raiders broke into
the warehouse of wireless technology distributor
Portable after cutting communication lines and alarms,
and used the companys forklift to smash through the
thick concrete walls of the vault, according to a
Computer Reseller News report.
Hampshire Police
advised warehouse owners to use reflective glass in
windows to prevent people from looking in.
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7.
EUROPEAN BIENNIAL LOGISTICS EXHIBITION
2003
Paris, France
11th, 12th, 13th &
14th March 2003
8.
SOUTHPACK
Atlanta, United States
30th
April and the 1st May 2003
9.
SLING SAFETY AND FALL PREVENTION
Los Angeles,
United States
16th - 17th April 2003
10.
THE SALES PROFESSIONAL PARAGON - ACCOUNT MANAGEMENT
PRACTICES - MHEDA
Chicago, United
States
Tuesday 11th Feb 2003, during Promat week
11.
THE SALES PROFESSIONAL - ACCOUNT MANAGEMENT PRACTICES
- MHEDA
Your office anywhere in the world,
United States
Monday 24th Feb 2003
12.
MHEDA - SALES TRAINING - PRE-CALL
PLANNING
Your location, United States
31st
March 2003
13.
TOC 2003 ASIA
Hong Kong, Hong Kong
25th,
26th and 27th February 2003
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14.
TENDER - HIRE OF PLANT - NOTE MUST APPLY FOR DOCS BY 17
FEB 2003
Sheffield, United
Kingdom
Closing: 14 March 2003 12:00am - Contract:
CPV: 71320000 etc
15.
EXPLOSION PROOF FORKLIFTS
Bhandara,
India
Closing: 28 February 2003 TBA - Contract:
16.
LIFTING, HANDLING, LOADING OR UNLOADING
MACHINERY
Deols, France
Closing: 04 March
2003 5:00pm - Contract: CPV: 29221800
17.
RENTAL OF 3 EACH FORKLIFTS FOR EXERCISE NORTH WIND
03
Yokota AB, Japan
Closing: 10 February
2003 TBA - Contract: F62562-03-T-0071
18.
LIFTING AND HANDLING EQUIPMENT
Takojantie 4,
Finland
Closing: 20 February 2003 12:00am - Contract:
CPV: 29221000
19.
LIFTING MACHINERY
Toulouse,
France
Closing: 10 March 2003 12:00am - Contract:
CPV: 29221800
20.
(2) MOBILE HARBOUR CRANES AND (2) REACH
STACKERS
State of West Bengal,
India
Closing: 07 March 2003 TBA - Contract:
21.
TRAVELLING CRANE
Wiesbaden,
Germany
Closing: 26 February 2003 TBA - Contract:
CPV: 29221421
22.
ONE (1) NEW INTEGRATED TOOL
CARRIER/LOADER
Burnaby, BC,
Canada
Closing: 27 February 2003 10:30am - Contract:
03-026
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