15.10.2003

New president for UpRight

Upright has announced the surprise departure of Ian Menzies, president and chief executive officer. John Coughlan has been appointed
president and general manager for the UpRight group of companies.

Menzies joined UpRight in May 2000 from mining equipment manufacturer Long Air Docks based in West Virgina. Originally from Scotland, Ian and his family have lived in the US for many years.
The announcement will come as a surprise to many, given Menzies successful leadership of the North American business, UpRight Inc, through the tortuous Chapter 11 process. UpRight emerged from Chapter 11 in September 2002.

Since then UpRight has faced sluggish demand in the North American market and production delays on some models. Deliveries on some of its most popular models are seriously extended.

During his tenure as president, Menzies radically restructured the business. Problems he addressed included difficulties following a massive investment in a second greenfield production plant in Madera, California, and in the design and tooling for a totally original line up of telescopic handlers..a market new to the company. The situation was exacerbated by a high dollar:low euro rate at a time when over half of all US production was being sold in the EU.

Menzies also oversaw the successful sale of the UpRight telehandler line to Volvo Construction Equipment while the two Californian plants were consolidated into the new Madera plant. In Ireland the company also moved into an all new plant in Park West, Dublin and began the process of transferring some production from the USA in order to mitigate future exchange rate fluctuations and improve deliveries.

Menzies’ replacement, John Coughlan, is based in Ireland and will be the fourth CEO since the departure of David Sargent in 1998. His appointment follows a rare visit last week to UpRight’s California headquarters by Rick Stowe, chairman of the ultimate parent company Griffin.

“John Coughlan will now be leading a global management team that will support both the North American and European operations. He will address the specific strategic issues that include the optimization of resources, continued investment in new product development and technology, and a renewed focus on all aspects of providing an improved customer service” said a statement from UpRight.

The company was purchased by Rick Stowe in October 1987, until that time UpRight had for a relatively short time been a publicly traded company. Stowe’s other interests cover mining, agriculture, outdoor advertising and packing/stationary supplies mostly in Australia.