JLG transitioning to Oshkosh ownership
15 April 2008
After acquiring JLG late last year, Oshkosh reaffirmed its intention not to close any of JLG's manufacturing plants. Charles Szews, Oshkosh executive vice president and CFO and interim president of JLG, told ACT sister publication American Lift and Handlers that progress on integration of the two companies was “excellent”and that JLG's plants were “top notch…we've said were not going to be shutting down any factories. We buy to build, we don't buy to tear them apart and restructure.”
Oshkosh is hoping to obtain synergy savings of around $75 million a year, three-quarters of which will come from procurement efficiencies and a quarter from back-office cuts at JLG. Szews, who is currently based full-time at JLG's corporate head office in Hagerstown, MD, said there was no danger of JLG losing its focus as a result of the acquisition.