October 16, 2006
Today, Oshkosh Truck Corporation and JLG Industries, Inc. announced that they have signed an agreement whereby Oshkosh will acquire all outstanding shares of JLG in an all-cash merger transaction. The transaction will create an approximately $6 billion global specialty vehicle manufacturer. Until the transaction closes, it means business as usual for both companies. When the transaction closes, which is anticipated to be in late 2006 or early 2007, Oshkosh will assume ownership of JLG.
Similar to JLG, Oshkosh is a capital goods company and is a leading global specialty truck manufacturer. They design, manufacture and market a broad range of commercial, fire and emergency, military trucks and truck bodies. Oshkosh has estimated annual sales of $3.4 billion, over 9,400 employees worldwide and over 5 million square feet of manufacturing space in 11 U.S. states, Mexico, The Netherlands, Canada, the U.K., Sweden and Italy. Oshkosh is headquartered in Oshkosh, Wisconsin and its shares trade on the NYSE under the symbol “OSK.”
There will be no immediate impact to N.A.P.S’s customers. We will continue to communicate but want you to feel free to contact us directly with any questions you may have.
Since 1969, JLG has been the market leader in the manufacturing and marketing of the aerial work platforms; and since 1999 JLG have grown to become the market leader in the manufacturing of the telescopic material handler. Our growth and our history have been constant throughout the dramatic changes in the market place. As JLG take thier legacy and combine it with the strength, diversity, and reputation for excellence of Oshkosh Truck Corporation, we are secure in the belief that this is yet one more stage in the development of the JLG name as a leading recognized brand in the construction, industrial, military, and maintenance markets around the world.
N.A.P.S are excited to part of theses changes and look forward to continue supporting the JLG Brand and you the customer in the Southern African Market.
Look forward to your in questions and hope to chat to you soonest.
Regards
Keith Freel
N.A.P.S
Managing Director