29.11.2005

JLG complete CAT acquisition

JLG has confirmed today that it has completed the purchase of equipment, tooling, and intellectual property of Caterpillar's telehandler product line.

"We are pleased that this transaction has been closed in such a short time period," commented Bill Lasky, chairman of the board, president and chief executive officer. "Consistent with our strategic plan, this alliance will improve both our sales and global market position and, by gaining access to approximately 200 Caterpillar dealers with more than 3,100 locations worldwide, it will increase the diversity of our customer base and geographic balance. We have formed a dedicated alliance team and comprehensive plan to fully integrate Cat branded telehandlers into JLG's Belgium and Pennsylvania operations, and I am confident in the team's ability to deliver that plan. I am equally excited to have Caterpillar as a valued component