Upright sells telehandler rights to Volvo
Upright has sold the rights to its telehandler products to Volvo.
Volvo Construction Equipment will manufacture and develop the popular telehandlers, globally launching them under the Volvo brand in 2003.Upright will continue to support its customers with parts technical and training services and warranties, as well as offering the Volvo manufactured telehandlers under Upright's name. However, the company hopes to focus on its scissor and boom products in 2002.
Until now, Upright telehandler products have been seen in the US and Australia only. Volvo will offer them through its worldwide dealers and plans to exploit markets in Europe and the rest of the world.
As part of the agreement, Upright is to be sole supplier to the recently launched global rental initiative set up by Volvo. Klas Magnussun, the Senior Vice President of Communications at Volvo CE told Vertikal.net “The acquisition of the Upright telehandler designs and manufacture rights is very important to our group strategy. It will expand what we can offer to our dealers and customers and will be an important product in our rental initiative.”
The rental business itself is still at planning stage, he continued, but Volvo hopes to launch it within the first quarter of 2002. "It is likely to provide the company with a route to previously un-exploited territory all over the world, especially in Europe."