Aerial access platform manufacturer JLG Industries announced on 21 May that it had acquired Litra Handeslgesellschaft, a leading German manufacturer of access equipment based in Ritterhude. The company will now be known as JLG Litra.
JLG said that the takeover was designed to increase its product support for German customers and increase availability of equipment and parts.
The German deal followed soon after the announcement that JLG had signed an agreement to acquire Gradall Industries, a US manufacturer of telescopic handlers and excavators, for $200m cash (JLG agrees Gradall acquisition Jun99, p9).
For the three months ending 30 April 1999 JLG reported sales up 34% to $196.7m and net income up 23% to $17.3m. Growth was attributed to strong domestic sales which rose 51% to $147.4m for the period, the third quarter of JLG’s financial year.
