Genie to manufacture ‘closer to customers’

15 April 2008

Genie's new Z–40 electric boom.

Genie's new Z–40 electric boom.

Although still unwilling to provide any detailed comments on his strategy for Genie Industries, new president Tim Ford used the recent Rental Show to signal Genie's intention to manufacture outside North America.

“There is a tremendous opportunity to globalise our business”, he said, adding, “We will be manufacturing our products closer to our customers as we go forward.” Manufacturing of Z–45 booms in Italy is on track to start in March, although European production of scissors is still under discussion.

Meanwhile, a weakening of telehandler sales failed to stop Terex's aerial work platform division – including Genie – report a 30% rise in sales to US$514 million for the final quarter of the year to 31 December 2006. Sales for the year rose 41% to $2.09 billion, with operating profits almost doubling to $372.6 million. The division's backlog has fallen by 16% to $419.4 million.

Mr Ford said the final quarter showed a weakness in sales of trailer mounted aerial platforms and telehandlers but that this weakness was “more than offset by solid demand for aerial lifts.” He forecast US sales would remain strong in 2007 with the proportion of exports growing from 30% to 40% of the total in 2007.

The company used the show to launch its new a.c. drive technology Z–40/23N. Genie said the drive system – used extensively in the industrial forklift sector – will be used on other machines in the future.

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