JLG Industries has sold the entire Gradall excavator line to Alamo Group for $39.4 million. According to a press release, the sale includes the 430,000-square-foot manufacturing facility in New Philadelphia, Ohio, and related equipment, machinery, tooling and intellectual property. The companies have a supply agreement covering the components for JLG's telehandlers that are currently manufactured at the New Philadelphia facility.
"Divesting this product line is consistent with our strategy of focusing our efforts on our core access business and the proceeds from the sale will be used to continue implementing our growth strategy," said Bill Lasky, JLG's chairman of the board, president and CEO. "The Gradall excavator is a well-known and highly respected niche product line, but it is not a core business for JLG."
Management of the Gradall operation will be from Gradall veterans who are already on site. Michael Haberman, who has been with Gradall for more than 18 years, has been named president.
"I am very excited about the future of Gradall with the Alamo Group," Haberman said. "Gradall has been an important corporate citizen in this community for over 55 years...and it's great that the positive Gradall impact will continue and grow even stronger again."