21.10.2002

UpRight to exit Chapter 11- “Go sell lifts,” says Judge

UpRight has announced that it will be exiting Chapter 11 on November 5 this year. The announcement follows a court hearing held last week in Fresno, California, US, where Judge Whitney Rimel gave UpRight the go ahead and confirmed its Plan of Reorganisation for the November date.

Commenting on the event, Ian Menzies, president of UpRight said that Judge Rimel congratulated the UpRight team, its lawyers, and the financial professionals who have represented the company over the past sixteen months. “Now its our turn to say “thank you” for working with us, for supporting us, and for helping to bring about this significant event in the history of Upright,” said Menzies. “Today we are a different shape and a different size and it is our intent to grow the business and to make it prosperous once again.”

UpRight filed for Chapter 11 back in June 2001, which ultimately lead to the loss of more than 300 members of its US-based workforce, along with its U-Drive Personnel Mast Climber model, which was axed from the company’s product range due to poor sales performance. Arguably the most dramatic effect of the filing was the consolidation of production at the company’s Madera facility, following the closure of its original manufacturing facility at Selma.

During this time the production of the company's SL20 self-propelled vertical lift was transferred to the company’s Dublin, Ireland plant. The company said that despite its recent problems, however, it has managed to continue the development and launch of its new X26 Ultra-N narrow electric scissor lift introduced earlier in the year, while customers can look forward to the launch of a brand new trailer boom by the end of 2002.


Comments

This website is using cookies to provide an optimised user experience. By continuing you are agreeing to the use of cookies. More Info
OK