ITEM 1. BUSINESS
Founded in 1969, we are the world's leading producer of access equipment
(which we define as aerial work platforms and telehandlers) and highway-speed
telescopic hydraulic excavators (excavators) based on gross revenues. Our aerial
work platform and telehandler products are used in a wide variety of
construction, industrial, institutional and general maintenance applications to
position workers and materials at heights. Our access equipment customers
include equipment rental companies, construction contractors, manufacturing
companies, home improvement centers and the U.S. military. Our excavator
products are used primarily by state and local municipalities in earthmoving
applications. We sell our products globally under some of the most well
established and widely recognized brand names in the access equipment industry,
including JLG®, SkyTrak®, Lull®, Toucan® Manlift® and Gradall®. We have
manufacturing facilities in the United States, Belgium and France, as well as
sales and service operations on six continents. We operate on a 5-4-4 week
quarter with our fiscal year and fourth quarter ending on July 31. Our first
quarter ends on the Sunday closest to October 31 that either coincides with or
precedes that date. Our second and third quarters end 13 and 26 weeks,
respectively, following the end of the first quarter.
Building on our European presence while remaining focused on the access
industry, on April 30, 2004, we completed our purchase of Delta Manlift SAS
("Delta"), a subsidiary of The Manitowoc Company ("Manitowoc"). Headquartered in
Tonneins, France, Delta has two facilities that manufacture the Toucan Manlift
brand of vertical mast lifts, a line of aerial work platforms distributed
throughout Europe for use principally in industrial and maintenance operations.
In addition, we purchased certain intellectual property and related assets of
Manitowoc's discontinued product lines, which will permit us to re-launch
selected models of the Liftlux brand scissor lifts. The Liftlux brand of scissor
lifts, primarily known for large capacity and height, is popular with specialty
re-rental companies in Europe and North America and complements the upper end of
our scissor lift line. For additional information relative to our Delta
acquisition, see Note 2 of the Notes to Consolidated Financial Statements,
Item 8 of Part II of this report.
On August 1, 2003, we completed our acquisition of the OmniQuip® business
unit ("OmniQuip") of Textron Inc., which includes all operations relating to the
SkyTrak and Lull brand telehandler products. OmniQuip manufactures and markets
telehandlers and is North America's leading producer of telehandlers used in
numerous applications by commercial and residential building contractors, as
well as by customers in other construction, military and agricultural markets.
OmniQuip is also a key supplier of telehandlers to the U.S. military. For
additional information relative to our OmniQuip acquisition, see Note 2 of the
Notes to Consolidated Financial Statements, Item 8 of Part II of this report.
Products and Services
We operate through three business segments: Machinery, Equipment Services,
and Access Financial Solutions.
Machinery
Our Machinery segment designs, manufactures and sells aerial work platforms,
telehandlers, telescoping hydraulic excavators and trailers, as well as an array
of complementary accessories that increase the versatility and efficiency of
these products for end-users.
Our JLG, Toucan and Manlift brand aerial work platforms are designed to
permit workers to position themselves, their tools and materials efficiently and
safely in elevated work areas that otherwise might have to be reached by
scaffolding, ladders or other devices. We produce three basic types of aerial
work platforms under the JLG brand: boom lifts, scissor lifts, and vertical
personnel lifts, which include our stock pickers. Aerial work platforms consist
of a platform mounted at the end of telescoping and/or articulating booms or on
top of scissor-type or other vertical lifting mechanisms, which, in turn, are
mounted on mobile chassis. A variety of standard accessories for specified
end-user applications also may be incorporated into certain aerial work platform
models. Our aerial work platforms are primarily used in construction, industrial
and commercial applications and are designed for stable operation in elevated
positions.
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Our boom lifts are especially useful for reaching over machinery and
equipment mounted on floors and for reaching other elevated positions not
effectively approached by other vertical lifting devices. They are also ideal
for applications where the chassis cannot be positioned directly beneath the
intended work area. We produce boom lift models of various sizes with platform
heights of up to 150 feet. The boom may be rotated up to 360 degrees in either
direction, raised or lowered from vertical to below horizontal, and extended
while the work platform remains horizontal and stable. These machines can be
maneuvered forward or backward and steered in any direction by the operator from
the work platform, even while the boom is extended or raised. Boom-type models
have work platforms, which vary in size from 30 inches by 48 inches to 36 inches
by 96 inches, with the rated lift capacities ranging from 500 to 1,000 pounds.
Our scissor lifts are designed to provide access from directly below or
adjacent to a work area. In general, scissor lifts have larger work areas and
allow for heavier loads than boom lifts. Compact electric models can maneuver in
restricted areas, and many are designed to fit through standard doorways. Larger
models, usually with internal combustion engines, are used in outdoor
environments and generally provide higher capacities and larger work areas than
indoor models. Scissor lifts may be maneuvered in a manner similar to boom
lifts, but the platforms may be extended only vertically, except for a standard
feature that extends the deck horizontally up to six feet. Scissor lifts are
available in various models, with maximum platform heights of up to 80 feet and
various platform sizes of up to seven feet wide and up to 14 feet long. The
rated lift capacities range from 500 to 2,500 pounds.
Our vertical mast lifts consist of a work platform attached to an aluminum or
steel mast that extends vertically, which, in turn, is mounted on either a
push-around or self-propelled base. Available in various models, these machines
in their retracted position can fit through standard door openings, yet reach
platform heights of up to 41 feet when fully extended, and have rated lift
capacities ranging between 300 and 500 pounds. In addition, our stock picker
models can reach up to 21 feet and have a rated lift capacity of up to 500
pounds.
During the fourth quarter of fiscal 2005, we announced an expanded focus on
commercial and industrial market channels for access products, such as our
vertical mast lifts and trailers, through the formation of the Commercial
Solutions Group. The Commercial Solutions Group is an element in our strategy to
diversify our revenue base and expand our market penetration of non-rental
company channels for access equipment. The requirements of these
direct-to-customer channels for product design and customer service will be the
focus of the Commercial Solutions Group.
Our SkyTrak, Lull, Gradall and JLG brand telehandlers are typically used by
residential, non-residential and institutional building contractors and
agricultural workers for lifting, transporting and placing a wide variety of
materials at their point of use or storage. We are North America's leading
manufacturer and marketer of telehandlers. Our telehandlers have rated lift
capacities ranging from 6,600 to 12,000 pounds and maximum lifting heights
ranging from 23 to 55 feet and can be fitted with a variety of material handling
attachments. In addition to our commercial lines, we also manufacture the
All-Terrain Lifter, Army System ("ATLAS") under a sole source contract with the
U.S. Army. We also have a contract to provide the Millennia Military Vehicle
("MMV") to the U.S. Marine Corps. The ATLAS and MMV are specifically designed
for military applications.
We are a growing player in the European telehandler market and our
European-design telehandlers leverage our traditional aerial work platform
product line and our existing European-based manufacturing, sales and service
operations. As a result of two separate asset acquisitions, we offer a line of
European-style telehandlers designed for construction and industrial use, as
well as a line specifically designed for agricultural applications, which
comprise a significant portion of the European telehandler market. To better
access the agricultural segment of the European telehandler market, in
April 2005, we entered into an agreement with SAME Deutz-Fahr Group ("SDFG")
whereby SDFG is now marketing certain of our compact telehandlers in the
European agricultural segment through its distributor network. This relationship
strengthens our efforts to market telehandlers to the agricultural market and
helps diversify our end-use customers, which historically have been found in
construction, general industry and maintenance markets. All European-style
telehandlers are produced in our Maasmechelen, Belgium facility.
Our Gradall brand excavators are typically used by contractors and government
agencies for ditching, sloping, finish grading and general maintenance and
infrastructure projects. Our excavators are distinguished from other types of
excavators by their telescoping, rotating booms and low overhead clearance
requirements. Unlike the
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articulated booms on traditional excavators, the Gradall boom's "arm-like"
motion increases the machine's versatility, optimizing the potential to use a
wide variety of attachments. We manufacture and market a variety of
track-mounted and wheel-mounted excavators, including specialized models used in
mining, steel production and hazardous waste removal applications, and we are
the leading supplier of highway-speed wheel-mounted excavators in North America.
In North America, we also manufacture a line of Triple-L™ drop-deck trailers
with load capacities ranging from 2,000 to 10,000 pounds. These load trailers
are primarily sold to big box retailers and large national rental companies to
provide their equipment rental customers with the capability to transport our
equipment. Additionally, we assemble and market portable light towers in
Australia.
A wide range of complementary accessories is available across our product
lines. These accessories not only enhance the productivity of our equipment, but
also help to optimize a given piece of equipment to meet the demands of a
specific application or task. For our telehandlers and hydraulic excavators, the
accessories are primarily boom-end attachments that alter the nature of the
machine, switching an excavator, for example, from ground-engaging,
high-production digging mode to a grading tool, able to perform final ground
profiling and contouring prior to the re-seeding of a jobsite. Our
industry-leading Workstation in the Sky concept describes a series of packages
and attachments that enable operators of our aerial work platforms to perform
certain tasks more effectively and efficiently than through the use of
conventional methods. For example, the SkyWelder package that is available on
many JLG boom lifts incorporates a complete welding system within the boom lift
itself. The system is comprised of a welding unit mounted in the boom lift's
operator platform, with power supplied by an on-board generator, yielding
increased autonomy and eliminating the need to rent or purchase separate pieces
of equipment. Other Workstation in the Sky series packages and attachments offer
similar efficiencies.
Equipment Services
Our Equipment Services segment provides after-sales service and support for
our installed base of equipment, including parts sales and equipment rentals,
and sells used, remanufactured and reconditioned equipment. We remanufacture,
recondition (to certain specified standards, including American National
Standards Institute, or ANSI standards) and repair JLG used equipment and resell
the same. In addition, we repair and resell used equipment of competing
manufacturers. We offer a variety of service warranties on these machines. We
are the only access equipment manufacturer with dedicated remanufacturing
facilities in both North America and Europe for remanufacturing and remarketing
previously owned equipment with like-new warranties.
In North America, we offer this capability primarily through our ServicePlus™
operations, which offer preventive maintenance programs to general repairs to
reconditioning and remanufacturing of our equipment. We established ServicePlus
in July 2004 with an initial location in Houston, Texas. In June 2005, we
expanded ServicePlus to include our 12-year old McConnellsburg, Pennsylvania
reconditioning and remanufacturing facility. We plan to expand ServicePlus
beyond these two regional facilities by establishing multiple sites throughout
the United States.
For the European market, in 2004 we established an Equipment Services
capability with the purchase of a dedicated facility near our manufacturing
operations in Tonneins, France
The North America operation in McConnellsburg, PA has been certified as
meeting ISO 9002 standards relating to customer service quality. The European
and the Houston, TX operations are currently in the start-up phase.
We also distribute replacement parts for our and competing manufacturers'
equipment through supplier-direct shipment programs and a system comprised of
two parts depots in North America and single parts depots in each of Europe and
Australia. Sales of replacement parts have historically been less cyclical and
typically generate higher margins than sales of new equipment. To help
facilitate parts sales, we use Internet-based e-commerce in an effort to develop
closer relationships with our customers. For example, we handle virtually all of
our warranty transactions and approximately 70% of our parts orders via the
Internet.
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As of July 31, 2005, we had a rental fleet of approximately 210 units that we
deploy in North America to support our rental company customers' demands for
short-term rental contracts. Through a joint venture, we maintain a similar
rental fleet of approximately 1,280 units in Europe. The rental aspect of our
North American and European rental operations is designed to support, rather
than compete with, our rental company customers, offering added fleet management
flexibility by making additional machines available on short-term leases to meet
peak demand needs of large projects. Also, in Great Britain, we operate a small
fleet of service vehicles.
We support the sales, service, and rental programs of our customers with
product advertising, cooperative promotional programs, major trade show
participation, and training programs covering service, products and safety. We
supplement our domestic sales and service support to our international customers
through overseas facilities in Australia, Belgium, Brazil, France, Germany, Hong
Kong, Italy, New Zealand, Poland, South Africa, Spain, Sweden and the United
Kingdom, and a joint venture in the Netherlands.
Access Financial Solutions
Our Access Financial Solutions segment arranges equipment financing and
leasing solutions for our customers, primarily through "private-label"
arrangements with third party financial institutions, and provides credit
support in connection with these financing and leasing arrangements. Financing
arrangements that we offer or arrange through this segment include installment
sale contracts, capital leases, operating leases and rental purchase guarantees.
Terms of these arrangements vary depending on the type of transaction, but
typically range between 36 and 72 months and generally require the customer to
be responsible for insurance, taxes and maintenance of the equipment, and to
bear the risk of damage to or loss of the equipment.
We incur contingent limited recourse liabilities with respect to our customer
financing activities in two ways. For additional information relative to
guarantees, see Note 17 of the Notes to Consolidated Financial Statements,
Item 8 of Part II of this report. We provide limited guarantees to support
certain of our customers' obligations in the event of default to third-party
financing companies that originate credit transactions that we help to arrange.
We also monetize a substantial portion of the finance receivables that we
originate through our ongoing program of syndications, limited recourse
financings and other monetization transactions. In connection with some of these
monetization transactions, we have limited recourse obligations relating to
possible defaults by the obligors under the terms of the contracts which
comprise the finance receivables. For additional information relative to limited
recourse obligations, see Note 3 of the Notes to Consolidated Financial
Statements, Item 8 of Part II of this report. During fiscal 2005, we supported
our customers in directly financing $3.7 million in sales and in arranging
third-party financing for an additional $211.2 million in sales.
Our staff in this segment is comprised of seasoned professionals who are
experienced in credit analysis and financial services support. We adhere to
credit policies that require various levels of credit approval depending on the
transaction size and overall credit concentration with any customer. For
example, Chief Executive Officer or Chief Financial Officer credit approval is
required for any single customer credit including open account balance in excess
of $10 million and approval of the Finance Committee of the Board of Directors
is required for any single customer credit in excess of $25 million. Credit
decisions to extend financing to customers are based on a rigorous credit review
process that incorporates both financial analysis as well as business rationale
to support a particular customer. Once identified as a key customer, we
regularly review the customer's financial results and projections and its
business and expansion plans and continuously monitor our overall credit
exposure to that customer.
Industry
We operate primarily in the access segment of the global construction,
maintenance, and industrial equipment industry. We define the access segment as
aerial work platforms and telehandlers. Demand for these products is greatest
among industrialized economies where productivity and safety are valued.
Consequently, the largest markets for access equipment are North America,
Western Europe and the developed markets of Asia and the Pacific Rim.
Manufacturers sell access equipment to equipment rental companies and
independent equipment distributors. Equipment rental companies rent the
equipment to a broad range of end-users and equipment distributors resell the
equipment to end-users and other customers. Aerial work platforms reach
end-users predominantly through the equipment rental channel. Telehandlers reach
end-users through both the equipment rental and equipment distribution channels.
Additionally, home improvement centers are a smaller, but growing
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channel for specialized access equipment targeted at small contractors and other
home improvement professionals. Home improvement centers and other big box
retailers also present significant opportunities for "behind the wall" sales of
access products for stock-picking and other in-store applications.
The North American equipment rental industry has been consolidating since the
mid-1990s, resulting in a number of larger national and regional companies. The
consolidation in the equipment rental industry has contributed to a significant
reduction in the number of access equipment manufacturers as the larger
equipment rental companies have sought to reduce the number of suppliers from
which they purchase equipment. Since 1997, the number of significant North
American and European broad-line aerial work platform manufacturers has
decreased from 11 to three, and the number of significant North American and
European telehandler manufacturers has decreased from 13 to eight. We believe
this consolidation has positioned us and the other remaining access equipment
manufacturers to generate improved returns from stronger market shares and the
associated purchasing and production economies.
Segment Financial Information
Financial information regarding each of our segments appears in Note 10 of
the Notes to Consolidated Financial Statements, Item 8 of Part II of this
report.
Marketing and Distribution
Our products are marketed in over 3,500 locations worldwide through
independent rental companies and distributors that rent and sell our products
and provide service support, as well as through other sales and service branches
or organizations in which we hold equity positions. North American customers are
located in all 50 states in the U.S., as well as in Canada and Mexico.
International customers are located in Europe, the Asia/ Pacific region,
Australia, Japan, Africa, the Middle East and Latin America, and our sales force
is comprised of almost 180 employees worldwide. In North America, teams of sales
employees are dedicated to specific major customers, channels or geographic
regions. Our sales employees in Europe and the rest of the world are spread
among our 21 international sales and service offices.
Sales to one customer, United Rentals, Inc., accounted for 14%, 14% and 15%
of our consolidated revenues for the years ended July 31, 2005, 2004 and 2003,
respectively. Sales to another customer, Hertz Equipment Rental Corporation,
accounted for 10% of our consolidated revenues for the year ended July 31, 2005.
Certain of our operations have been certified as meeting ISO 9001 and ISO
9002 standards. We believe that ISO certification is valuable because a number
of customers require such certification as a condition to doing business.
Product Development
We invest significantly in product development, diversification and
improvement, including the modification of existing products for special
applications. Our product development staff is comprised of over 150 employees.
Product development expenditures totaled approximately $23.8 million,
$20.2 million and $16.1 million for the fiscal years 2005, 2004 and 2003,
respectively. In those same years, sales of new or redesigned products
introduced within the preceding 24 months were $323.4 million, $291.8 million
and $216.0 million, or 19%, 24% and 29% of sales, respectively.
Intellectual Property
We have various registered trademarks and patents relating to our products
and our business, including registered trademarks for the JLG, Gradall, SkyTrak
and Lull brand names. While we consider this intellectual property to be
beneficial in the operation of our business, we are not dependent on any single
patent or trademark or group of patents or trademarks.
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Seasonal Nature of Business
Our business is seasonal with a substantial portion of our sales occurring in
the spring and summer months which constitute the traditional construction
season. In addition, within any fiscal quarter the majority of our sales occur
within the final month of the quarter.
Competition
We operate in the global construction, maintenance, industrial and
agricultural equipment markets. Our competitors range from some of the world's
largest multi-national construction equipment manufacturers to small
single-product niche manufacturers. Within this global market, we face
competition principally from two significant aerial work platform manufacturers,
approximately 24 smaller aerial work platform manufacturers, seven major
telehandler manufacturers and approximately 15 smaller telehandler
manufacturers, as well as numerous manufacturers of other niche products such as
boom trucks, cherry pickers, mast climbers, straight mast and truck-mounted
fork-lifts, rough-terrain and all-terrain cranes, truck-mounted cranes, portable
material lifts and various types of material handling and earth moving equipment
that offer similar or overlapping functionality to our products. We believe we
are the world's leading manufacturer of aerial work platforms and one of the
world's leading manufacturers of telehandlers. We are currently a niche supplier
of hydraulic excavators, but within the narrow category of highway-speed,
wheeled-mounted excavators, we are the leading supplier in North America.
Material and Supply Arrangements
We obtain raw materials, principally steel; other component parts, most
notably engines, drive motors, tires, bearings and hydraulic components; and
supplies from third parties. We also outsource certain assemblies and fabricated
parts. We rely on preferred vendors as a sole source for "just-in-time" delivery
of many raw materials and manufactured components. We believe these arrangements
have resulted in reduced investment requirements, greater access to technology
developments and lower per-unit costs. Because we maintain limited raw material
and component inventories, even brief unanticipated delays in delivery by
suppliers may adversely affect our ability to satisfy our customers on a timely
basis and thereby affect our financial performance. In addition, market prices
of some of the raw materials we use (such as steel) have recently increased
significantly. If we are not able to pass raw material or component price
increases on to our customers, our margins could be adversely affected.
Product Liability
We have rigorous product safety standards, and we continually work to improve
the safety and reliability of our products. We monitor accidents and possible
claims and establish liability estimates with respect to claims based on
internal evaluations of the merits of individual claims and the reserves
assigned by our independent insurance claims adjustment firm. The methods of
making such estimates and establishing the resulting accrued liability are
reviewed frequently, and any adjustments resulting from such reviews are
reflected in current earnings. Reserves are based on actual incidents and do not
necessarily directly relate to sales activity. Based upon our best estimate of
anticipated losses, product liability costs approximated 0.8%, 1.0% and 0.9% of
our consolidated revenues for the years ended July 31, 2005, 2004 and 2003,
respectively.
For additional information relative to product liability insurance coverage
and cost, see Note 17 of the Notes to Consolidated Financial Statements, Item 8
of Part II of this report.
Employees
We had 3,927 employees as of July 31, 2005. Approximately 8% of our employees
are represented by unions under contracts, which expire April 22, 2006 and
November 1, 2006.
Environmental
Our operations are subject to various international, federal, state and local
environmental laws and regulations. These laws and regulations are administered
by international, federal, state and local agencies. Among other things, these
laws and regulations regulate the discharge of materials into the water, air and
land, and govern
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the use and disposal of hazardous and non-hazardous materials. We believe that
our operations are in substantial compliance with all applicable environmental
laws and regulations, except for violations that we believe would not have a
material adverse effect on our business or financial position.
Foreign Operations
We manufacture our products in the U.S., Belgium and France for sale
throughout the world. Revenues from customers outside of the U.S. were 24%, 23%
and 27% of our consolidated revenues for 2005, 2004 and 2003, respectively.
Revenues from European customers were 15%, 15% and 19% of our consolidated
revenues for 2005, 2004 and 2003, respectively. Additional financial information
regarding our foreign operations appears in Note 10 of the Notes to Consolidated
Financial Statements, Item 8 of Part II of this report.
Executive Officers of the Registrant
Our executive officers, their positions and ages as of October 3, 2005 and
the years they began their current principal positions are as follows:
Principal
Position
Name Position Age Held Since
William M. Lasky Chairman of the Board, President and Chief 58 2001
Executive Officer
James H. Woodward, Jr. Executive Vice President and Chief Financial 52 2002
Officer
Peter L. Bonafede, Jr. Senior Vice President, Manufacturing and 55 2005
Supply Chain Management
Craig E. Paylor Senior Vice President, North America Sales, 49 2005
Marketing and Customer Support
Wayne P. MacDonald Senior Vice President, Engineering 52 2002
Philip H. Rehbein Senior Vice President, Commercial Solutions 55 2005
Group
Thomas D. Singer Senior Vice President, General Counsel and 53 2001
Secretary
Significant Employees
Israel Celli Vice President, International Sales, 52 2002
Marketing and Customer Support
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William M. Lasky joined JLG in 1999. Mr. Lasky has served as Chairman of the
Board, President and Chief Executive Officer since 2001. Prior to 2001, he
served as our President and Chief Executive Officer, and prior to 2000, as our
President and Chief Operating Officer.
James H. Woodward, Jr. joined JLG in 2000. Mr. Woodward has served as our
Executive Vice President and Chief Financial Officer since 2002. Prior to 2002,
he served as our Senior Vice President and Chief Financial Officer. Prior to
joining JLG in 2000, he served as Vice President and Director E-Business of Dana
Corporation, and prior to 2000, as Dana Corporation's Vice President and
Corporate Controller.
Peter L. Bonafede joined JLG in 1999. Mr. Bonafede has served as our Senior
Vice President, Manufacturing and Supply Chain Management since August 2005.
Prior to August 2005, he served as our Senior Vice President, Manufacturing.
Craig E. Paylor joined JLG in 1983. Mr. Paylor has served as our Senior Vice
President, North America Sales, Marketing and Customer Support since
August 2005. Prior to August 2005, he served as our Senior Vice President,
Sales, Marketing and Customer Support, and prior to 2002, he served as our
Senior Vice President, Sales and Market Development.
Wayne P. MacDonald joined JLG in 1975. Mr. MacDonald has served as our Senior
Vice President, Engineering since 2002. Prior to 2002, he served as our Vice
President, Engineering, and prior to 2000, as our Director, Advanced Technology
Development and Applications Engineering.
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Phillip H. Rehbein joined JLG in 1997. Mr. Rehbein has served as our Senior
Vice President, Commercial Solutions Group since August 2005. Prior to
August 2005, he served as our Senior Vice President, Strategic Operations. From
August 2002 until 2004, he served as our Senior Vice President, Finance. From
May 2002 to August 2002, he served as our Vice President, Finance. Prior to
May 2002, he served as Vice President and General Manager, Gradall, and prior to
2001, as our Vice President, Finance.
Thomas D. Singer joined JLG in 1984. Mr. Singer has served as our Senior Vice
President, General Counsel and Secretary since 2001. Prior to 2001, he served as
our Vice President, General Counsel and Assistant Secretary.
Israel Celli joined JLG in 2000. Mr. Celli has served as our Vice President,
International Sales, Marketing and Customer Support since 2002. Prior to 2002,
he served as our Vice President of International Sales, and prior to 2001, as
our General Manager of Latin America. Prior to joining JLG in 2000, he served as
Marketing Director for Latin America, Case Brasil and Cia (CNH Global).
All executive officers listed above are elected to hold office for one year
or until their successors are elected and qualified, and have been employed in
the capacities noted for more than five years, except as indicated. No family
relationship exists among the above-named executive officers.
Available Information
We file annual, quarterly, and current reports, proxy statements, and other
documents with the Securities and Exchange Commission ("SEC") under the
Securities Exchange Act of 1934 (the "Exchange Act"). The public may read and
copy any materials that we file with the SEC at the SEC's Public Reference Room
at 450 Fifth Street, NW, Washington, DC 20549. The public may obtain information
on the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. Also, the SEC maintains an Internet website that contains
reports, proxy and information statements, and other information regarding
issuers, including us, that file electronically with the SEC. The public can
obtain any documents that we file with the SEC at www.sec.gov.
We maintain a website at www.jlg.com. We make available on our website under
"Investor Relations -SEC Documents," free of charge, our annual reports on Form
10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and, if
applicable, amendments to those reports as soon as reasonably practicable after
we electronically file or furnish such material to the SEC. Information
contained on our website is not incorporated by reference into this report.
In October 2004, we submitted to the New York Stock Exchange the CEO
certification required by Section 303A.12(a) of the New York Stock Exchange
Listed Company Manual.
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