GOOD OLD TIMES ARE PAST
Daniel Kaplan
CEO
Daniel Kaplan Associates
Morristown, N.J.
RER: The rental industry has changed greatly over the past five years since the emergence of United Rentals and other public companies and consolidators. But for the most part, public companies aren't faring so well right now. What have they done wrong?
Kaplan: It is easy to look back and be a Monday morning quarterback. There are a couple of rental giants that have made strategic mistakes, but I'd rather speak to the industry. What has gone wrong is the decline in non-residential construction. Currently, supply of rental equipment exceeds demand. I don't know if anybody could have forecast in 1997-2000 the current turndown in the U.S. economy. As the rental giants acquired rental companies, they opened their checkbooks and bought equipment, especially in the year 2000. What has gone wrong is that rental rates and profitability have declined as a result of oversupply.
For the most part today, pricing is decentralized. Today, for the first time we are seeing an effort throughout the industry to rationalize the branch networks and rental fleets. For the industry to return to profitability, rental rates must be addressed. One industry leader is doing that today; hopefully others will follow.
You essentially prophesied the disappearance of the middle-level “regional” rental companies, with the industry becoming one of very large acquisition-minded players and small, single-location firms. How correct do you feel you have been and what kinds of developments do you expect to see in the coming years?
I believe that my forecast of the demise of the regional companies is correct; and at the same time I predict the success of the typical ARA member. The answer lies in the customer base of the rental entity.
Rental companies with yearly revenues of $1 million serve the communities in which they are located. They provide service at the local level and do it well. Their customers are the homeowners, small contractors, and small industrial customers. For rental companies with revenues above $5 million a year, their customers are the same as the national rental companies. Herein lies the problem. Local and regional rental companies will not enjoy the benefit of national accounts. In this market, the winner is the low-cost producer. The national chains have a lower cost basis than the local and regional rental companies, plus a larger local customer base.
Many people now feel the vitality of the industry is swinging back in the direction of the smaller companies who are able to offer more flexible decision-making and more personal service. Do you agree with this assessment?
Forget the good old times; they are never coming back. The change in the rental industry is “permanent.” Maybe some companies come back, but on a local basis. People forget that the market is much tougher today. How well you buy, how well you sell the used fleet, and how well you transfer equipment to drive utilization counts. Information technology is king. Forget the past; today you must be a low-cost producer, with a competitive rental rate, to make money.
Do you still expect to see big corporations enter into ownership of the rental market? One would think now would be a great opportunity, if some were interested, to enter the market given the weakened state of several major rental firms?
I expect to see, in the future, the major rental companies owned by the equipment manufacturers as a channel to market for their products and to compete against Caterpillar. The timing is unpredictable.
We've seen a lot of talented, experienced rental people leave the industry in recent years after selling their companies. Has this had a negative impact on the industry? Has the industry suffered a sort of “brain-drain?”
No question great people have left the industry, and this is a loss. A lot of these folks forget how hard they worked, and how little money they made except when they sold out. Operating a large rental company today is different than prior to consolidation. The expertise in rental today is the same expertise required to operate any national billion-dollar business.
At the same time, we see larger rental companies develop far more sophisticated systems than what we have seen in the past. What are some of the positive contributions the larger companies have made to the rental industry?
When I was running a rental company, we had 25 full-time programmers developing the perfect system. Now, even a small rental company can go out and purchase a state-of-the-art rental software package off the shelf, inexpensively.
The larger rental companies have purchased powerful big box AS400 rental software packages capable of handling hundreds of locations with data warehousing capability. They have custom modified these software packages for their own company requirements. They are not sharing these sophisticated systems.
We've seen, in recent months, a number of former owners whose non-compete agreements have expired return to the rental market by starting new rental companies. Do you expect to see this phenomena occur in large numbers or just a few?
I have not seen a large number of former owners return. I have seen a few return. Remember, it is a different game today. If they return, let's see if they can compete!
We've also seen a number of former managers, who don't necessarily have the personal capital base that former owners have, begin rental companies by starting up or acquiring a rental center. What are some of your thoughts regarding this phenomenon and do you expect to see a lot more of it?
If the former managers compete on a local basis they will succeed. If their competition is the national rental company, watch out. I am still watching carefully the development of The Volvo Rental Franchise.
You predicted a fairly large-scale consolidation of manufacturers. There has been a considerable degree of it the past few years. As much as you expected? Will this trend increase and intensify or do you feel this phenomenon has, to a degree, peaked?
I feel that the trend of manufacturer's consolidation has peaked. However, there is more to come. A year or so ago Terex had a global market share of 3 percent; today its market share is 9 percent. Tomorrow I can predict with certainty that it will be more than 10 percent.
The economy of the past two years has been rough on the rental industry and manufacturers to say the least. What's your prediction on the direction of the economy over the next year?
I had predicted a major recovery in 2003. 2003 for the economy, in my opinion, will be better than 2002. I also forecasted a large increase in the capex spending for the rental industry. I now believe that 2003 will show improvement. Capex spending by the rental industry will be 5 percent to 10 percent greater then 2002, which was a poor spending year for the rental industry.
You visit so many rental companies as a consultant. During these difficult years, what have been the characteristics of companies that are faring well and what have been some of the characteristics of companies that haven't fared so well?
The good companies utilize their rental software well to manage their businesses. The less successful companies, in some cases, don't use their rental software at all. The better companies build their customer base; the lesser companies just complain about business. The good companies take fleet actions eliminating poorly performing assets; the poorly run companies lament.
You've traveled internationally a great deal and have seen rental efforts throughout Europe, in India, Asia and Latin America? Where do you expect to see significant growth internationally in the coming years and what will be some of the characteristics of that growth?
Rental is growing globally. From a pure dollar point of view, the greatest growth will be in North America. But from a percentage point of view, the greatest growth will occur in this order: India, Asia, Europe, Latin America and North America last. Remember that the size of the rental market in North America is $25 billion. The size of the rental market in India is $25 million.
One of the selling points often expressed by executives of national public rental companies is that there is a massive, large-scale movement toward rentals and away from equipment ownership on the part of contractors, industrial facilities and large corporations. How strong is this trend and what do you expect to see in the coming years?
I often say that every day another contractor switches from ownership to rental. I am predicting that the penetration of rental from the contractor increases from 35 percent today to 50 percent in five years.
AN UNCERTAIN WORLD
Bob Fien
CEO
Stone Construction
Equipment
Honeoye, N.Y.
RER: It's been a tough year in the equipment rental industry and a tough year for many manufacturers. What are your expectations for 2003?
Fien: I think the economic fundamentals are still sound. It's the uncertainty in the world today that makes it difficult to project 2003. Because of the many variables at play, I think projections for 2003, more than any other year, are based on “feel” rather than concrete economic data. Having said that, we are very optimistic about 2003. Last year was an excellent year for us and we feel 2003 will be even better.
Obviously, the economy has been difficult, but do you sense that rental companies and manufacturers are in some respects following outdated business models? If so, what kinds of changes are likely to be necessary?
I don't want to generalize, but some, not all, rental companies and manufacturers I personally feel are using poor business models. They manage just the bottom line. When you do that you tend to make decisions that might be helpful in the very near term but can weaken the fundamentals and profitability of the business over the longer term. There are a number of companies in our industry that use a business model that, over many years, I have never seen fail. These companies manage the profit generators; exceptional customer service and responsiveness; unrelenting effectiveness and productivity throughout the entire organization; an obsession for quality performance; and a tireless search for technological innovation. When you manage the profit generators the bottom line takes care of itself.
Swinging back to the first question on expectations, nobody knows for sure when the economy will improve. But what kinds of economic developments do you expect to see on a long-term basis in this decade?
We are no longer dealing with just an American economy. We are dealing with a world economy. And the world is going through a rough patch right now. Nations are divided, there is outright hatred among peoples and there is emerging an unhealthy and irrational competitiveness among so-called friends. All these factors are negatively impacting world commerce and the world economy. The use of tariffs and other trade barriers is on the rise and the World Trade Organization has never been so busy.
But I think during the next decade this will change. We will learn to live together peacefully in spite of our differences. We will learn how to work together to expand the potential of all countries. And this will have a positive impact on commerce. Trade will flourish over the next ten years and the world economy will strengthen and grow. I think this phenomenon will be the single most significant development impacting our economy in the next decade.
Are we likely to see more manufacturer consolidation in the coming years?
There may be a few but clearly not at the frantic and perhaps irrational pace of the past few years.
What about in the rental industry? Obviously the public consolidators haven't fared as well as they predicted. What kind of future do you foresee for them?
There will be a place for the public consolidators in the industry. But they will not dominate as they predicted. They will become smaller and, because of their business model, will have some difficulty competing with the independents.
Many people have been surprised by the quantity of start-ups by former managers of larger rental firms and now that non-compete agreements have expired, more former owners are returning to the rental business. Is this a sign that the rental industry is as resilient and vital an industry as many predicted?
The rental industry has always been resilient and vital with its own unique needs. For a few years we lost sight of this because the consolidators tried to impose their view of what the industry needed. This caused confusion and uncertainty. It also left a void because no one was responding to the real needs of the industry. The former owners understood what was happening and are now bringing back a responsiveness to those basic needs.
How do you see the role of the independent in the coming years?
The independents will always have a major role in this industry. And their numbers will continue to grow.
What kinds of innovations do you expect to see on the equipment end in the coming years?
We will continue to use the latest technology to improve performance and productivity of our equipment. But I think we will see a growing trend toward using technology to enhance serviceability of equipment. Diagnostic technology, like the automobile business, will be used more widely. You will also see more attention being given to ergonomics making machines more user friendly.
What did you learn during your time as an AEM executive and your involvement in ConExpo?
You learn and appreciate at the same time. I never cease to be impressed at the quality of leadership we have in our industry, both on the manufacturing side as well as the distribution side. I never cease to be impressed at the common problems and opportunities we share with industry leaders around the world. And I never cease to be impressed by the dedication and energy of so many people to make our industry continually better.
What other kinds of projects are on the horizon for you and for Stone?
As far as the company is concerned, I'm very pleased with our progress. We have worked very hard, and I think successfully, in establishing a vibrant, innovative, and very unique business model. All components of that model are working exceptionally well except one — international. Although we do business in 89 countries, we are not as focused and disciplined as I think we could be. So that will be the next adventure.
As for me personally, my focus has shifted in the past couple of years. We now have the next generation of senior managers in place.
These people are energetic, bright, and professional and under the exceptional leadership of Lynne Woodworth, our President and COO, they are very capably running the everyday operations. This allows me more time to spend on strategic issues and opportunities both short and long term. I also sit on the executive committee and board of directors of AEM and am the chairman of its government affairs committee.
SAFETY IS MORE THAN A RENTAL-READY TAG
Jim Ziegler
CEO
RenTrain
Boulder, Colo.
RER: You have said that insurance issues are heavily on peoples' minds these days. Why?
Ziegler: There has been a dramatic increase in liability insurance costs in the last year and a half. I think 9/11 is the main reason for that increase, but whatever the cause, the cost of liability insurance in the rental industry has skyrocketed. Rental dealers who don't have good safety records and who have had a large number of claims are going to be hit especially hard. Everyone in the industry is going to need a comprehensive safety and training program to keep costs associated with liability insurance under control.
Are rental companies sufficiently well insured in general? If not, why not, other than the obvious that they don't want to spend money?
They really don't have any options anymore. They either have to self-insure, in which case one major claim will put them out of business, or they have to be insured. Again, a good safety and training program has become a necessity in this industry.
Why the emphasis on safety at this time? Don't people in the rental industry have a pretty sophisticated understanding of safety issues?
I don't think it really matters how sophisticated their understanding is or isn't. The real question is: Can they successfully convey that information to their customers? Second, do they have a way to audit the delivery of that information to those customers? That's what is becoming critical. If they don't have a way to audit the delivery of that information, any type of claim they experience has the potential to become a major loss.
Let's walk through a rental company, figuratively. Where are the greatest safety concerns and dangers?
That's a pretty big topic. For the sake of simplicity, let's put construction and special event to the side for the time being and focus on general tool. I think the place you start is with your employees and their safety equipment. They should be issued hard-toe shoes, safety hats, safety glasses and washable safety gloves. They should be aware of eyewash bays in case they get sprayed with anything, and they need to know how to utilize all of this equipment.
They need to know the location of fire extinguishers, they need to know the location of shut-off valves for all volatile fuels including propane, and they need to know how to shut the valves off.
Then, you have to talk about equipment. Every rental company should have a method to trace every rental-ready tag to an individual employee. Every employee should have a solid knowledge of the equipment in inventory and every employee should have the ability to demonstrate operating and safety instructions to customers. Then you have the whole maintenance question. The real issue is that rental dealers need to understand that a true rental ready philosophy incorporates all of the above. It's a lot more than just putting a tag on a piece of equipment. It's an attitude that has to permeate through the entire operation. That, in turn, takes us back to the previous question and the extent to which you can audit that information.
Do you have a method to instruct your employees on proper lifting and loading techniques? Is there a place on your contract to verify that safety and operating instructions were given to each customer for each piece of equipment rented? If not on your contract, was there a sticky note attached verifying the same? Are pieces of equipment like jumping jacks properly secured in your showroom so as to prevent serious injury in case someone accidentally tips it over? I know of a case where that actually happened and seriously injured a toddler.
You have to get into proper inventory and storage methods, visual safety stickers on ladders and so much more. You can fill volumes on this subject.
Is there a taking for granted of safety concerns at some rental centers?
My feeling is that safety is a daily priority. All personnel must be trained. There is no room for complacency in this industry when it comes to safety matters. If a shop person is not aware of the operating instructions for a particular piece of equipment, then that person has broken the link in a true rental ready philosophy. That same attitude is true with every other person in the store. If a service technician repairs a piece of equipment with parts that are not factory authorized, he or she has not only voided any warranty, but has also opened the door on a potential claim. You cannot be complacent, and this is true from the owner on down.
If one person breaks the chain, the reality is that a customer is in danger of a serious injury or worse. Drivers, counter people, yard people and managers, and everybody else have to be aware and work as a team. Unfortunately, I think consolidation has created a situation in the industry where safety and training does not occupy the same level of importance it once did. I believe this is something that the industry must address and it must address it now. The independents, in my opinion, have always done a better job when it comes to safety and training.
Jim, you've seen this industry from several different angles — from that of an ARA officer, as a long-time independent rental company owner, as an official with NationsRent, as an Ace official, and now with RenTrain. What are some of your views on how this industry needs to evolve?
The rental industry must understand costs on a daily and project basis. The ability to replace or repair old equipment, add new equipment and have a plan for properly disposing old equipment is crucial to the bottom line. One of the big problems I see with the industry today is that the national companies did not evolve their rates with that type of understanding.
Rental rates must cover the replacement of operating the business as well as replacing the equipment. The national companies have elected to extend the operating time of their equipment from 12 to 24 months. Sooner or later, and I think we're getting to the point where it's going to be sooner, that will result in a major safety issue and more claims against the industry. Old equipment has the potential to break down and breakdowns lead to a higher risk of injury. You don't need a degree in mechanical engineering to understand that reality. At some point you have to ask yourself: What's the real cost of a lower rate?
That said, independent dealers must learn to fully comprehend and implement what we call the cycle of rental. Simply put, the cycle of rental is a system whereby you determine your rates based on the real cost of your equipment. This includes purchase price, rental cycles, repair and maintenance, and disposal of equipment. If a dealer doesn't have a thorough understanding of this cycle, profitability will come back and haunt them in the fourth or fifth year. And that's before you consider the costs of a claim, should you decide to keep equipment in your inventory beyond the point you should. Again, it comes back to safety and training, and how both of those issues relate to your bottom line.
What are your overall goals and objectives with RenTrain? How do you see your work expanding in the future and what has been the response thus far?
We know we have a tremendous idea and we know we have a tremendous plan to reduce the number of accidents and safety concerns in the rental industry. We're developing a system that has the ability to deliver vital safety and operating information to customers and employees at the touch of a finger. That said, we also face significant challenges. We've spent a lot of money and energy on developing the administrative tools to deliver that, and now we need to put forth even more energy on developing the content database. We know what rental dealers want and need, specific to safety and training. We now have in place a very powerful framework in which we can deliver that information. In a sense, we ve built the house, now we have to fill it up with furniture.
The new business alliance we just signed with St. Paul and USI Rental Specialties is a major piece of news for us. We now have in place what we need to effectively market our product while installing furniture at the same time. Now it's just a question of putting in place the right kind of information. That's our highest priority.
This has been a tough economy the past couple of years for the rental industry. What are some of the keys for survival rental owners should be thinking about? Let's put it this way — if you were operating a rental company at the moment, what would you pay closest attention to?
I would do everything in my power to promote the DIY homeowner market, because that's where the highest profit margins are. DIYers typically don't have work done by sub-contractors. Managers of small residential and commercial properties are another opportunity. But let's go a step further. Rental dealers need to pay close attention to the nuances of their own geography. In the west, for example, there's a major effort toward landscaping that is environmentally honest. By that I mean you don't plant maples trees and grow lush lawns in arid land. You plant cacti and incorporate rocks and other indigenous landscaping features.
As a rental dealer doing business in the West, there's a real opportunity to work with engineers and landscape people who will need equipment to accomplish all landscape projects that are conducive to natural surroundings. You'll find similar realities in other parts of the country. My point is that the independent dealers have an excellent opportunity to exploit the latest trends in their market and build on the strengths that go hand-in-hand with being a forward-thinking independent entrepreneur. That's what always set this industry apart and I believe it always will.
To what degree do rental customers use the Internet? Do you have any research or anecdotal evidence on that subject?
While I don't have at my fingertips any hard scientific research, my RenTrain colleagues and I have spoken with a number of companies that provide computer hardware and software to the rental industry.
First, acceptance of computerization among rental dealers has grown significantly in the past two years. I understand that more than 50 percent of dealers are computerized. That's up substantially from where things stood a few years ago.
Second, the new versions of rental management systems from vendors such as Alert and Solutions are far more interactive with PC-based operating platforms than were earlier versions.
Third, most rental dealers have some sort of Internet connection in their stores — either at the counter or in a backroom, and for those who don't have Internet capability at their counter it will not require a quantum leap to get there.
Together, I am confident that the Internet will continue to play a larger and larger role in the rental industry, but more from an educational and management role as opposed to an e-commerce role for the near future.
MARGIN PRESSURE
Roger Euliss
President & COO
Multiquip
Carson, Calif.
RER: How is Multiquip likely to change in the post-Levine era?
Euliss: The basic philosophies and practices that Irv used as the basis for building Multiquip will not change. “The customer always comes first”, “Nothing is etched in stone”, “The only policy is not to have a national policy”, and “Flexibility to meet customer needs is paramount”, all continue to be the basis of our operations.
Since I am far from being a stand-up comic, we may not see the popular Comedy Nights for a while, and everyone who knows Irv will certainly miss the charisma he exudes. However, Multiquip is in sound position to continue serving the construction equipment industry in an exemplary manner to continue our growth and success. Remember too — Irv is still around and full of advice. We will talk!
Do you anticipate more acquisitions by Multiquip in the coming year or so?
We are always interested in good opportunities that fit. At this time there is nothing on the front burner. We still have a lot to do in fully integrating the Sanders Saws, Stow, and Diamond Back lines to make certain they are as successful as possible. You will see several new product introductions, many at the ARA show, and continued product improvements. This is more important today than any major acquisitions.
What kinds of changes, technologically, should we expect to see with Multiquip products and in the general light construction equipment field in the coming years?
Certainly there will be continued emphasis on more environmentally friendly equipment and improved safety and operational features. Productivity, durability and reliability are areas that we have always concentrated on and will continue to be a priority in our engineering, manufacturing and sourcing efforts. As we move more and more into the global markets we must comply with various standards around the world as well. This will be a huge challenge for Multiquip and anyone operating globally.
The past couple of years have been tough in the equipment rental market. What kinds of changes have you seen your rental customers go through over the past year?
“Tough” is perhaps very much an understatement. Rental rates are depressed. There continues to be a glut of construction equipment on the market. Resale prices are at very low margins. The economy continues to be a big question mark. Our rental customers have tightened their belts probably just about as much as they can. Fleets are aged probably as long as they have been in 20 years or more. Maintenance costs must be increasing.
However, with all the difficulties, I feel that this quite prolonged downturn will truly help our entire industry adjust to what will be a more normal market for several years to come. We all were spoiled and became a little sloppy during the “irrational exuberance” enjoyed during much of the '90s. As we emerge from this period, the survivors should be better businesses and realize more profitability while providing better total service to the industry.
What kinds of new directions do you expect rental companies to take in the coming year?
Many have evaluated their business, identified weak areas, profitable areas and niche markets. They will, or have, eliminated or reduced operations in the weak and low-profit areas while expanding the areas that offer more profitability. The emphasis on service and product support appears to be returning.
Quite a few manufacturers have faced shrinking margins, dwindling profits and increasing losses in recent years. Do you expect this trend to continue?
There will be continuing pressures on margins, and I predict that additional failures and consolidation will take place among the manufacturers. We all must find better ways to provide quality equipment and support more efficiently. At Multiquip, we are really concentrating on automated parts and service methods, and information since this is such a critical need and is an expensive area of operation.
Overall what do you expect of the U.S. economy in the next year or two, and internationally?
I am the eternal optimist. However, I have been proven wrong a time or two. But, I do feel confident that we are already working on the up side of the economy. We should enjoy a better year in 2003, but I do not see us returning to those “irrational” times of the late 1990s. And, truly, that is a good thing.
Internationally, the global markets are influenced to some extent by the U.S. economy. As the U.S. economy improves, so will most of the international economy. Big growth will continue in China and we plan to be a part of this with our MQ - China operation that we should see open during the first half of this year. Latin America should show signs of improvement, as should some of the other Asian countries. Europe may be a little flat, but not bad. All in all, I anticipate a reasonably healthy world economy for the near term. Unknown developments such as terror, war, and more corporate malfeasance could of course alter all of this quickly.
AERIALS STILL A GROWTH MARKET
Craig
Paylor
Senior vice president — sales, marketing and customer support
JLG McConnellsburg, Pa.
RER: It has been a tough couple of years in the aerial industry. Obviously supply has outstripped demand in the rental market and subsequently rental companies didn't buy a lot of aerial products. How do you see the market developing over the next couple of years?
Paylor: This scenario has resulted in rental companies aging their fleets and selling off excess equipment (generally brands from manufacturers that have closed or had serious difficulties). We see the market opportunity for a large replacement demand for new equipment sales, remanufactured used equipment for resale, and a more buoyant parts business.
The uncertainty of the economy has obviously played a role in the downturn in the aerial industry. Do you have any predictions for how the economy will fare over the next year or two?
Uncertainty has been the underlying condition. While the economy has several bright spots, non-residential construction remains one of the last sectors to recover. In addition, the health of the distribution channel (major rental companies) has to improve by realizing their efficiencies and stabilizing rental rates to generate the earnings necessary to fuel expenditures. We see this year being level compared to last year with recovery starting in 2004.
The past couple of years have been very tough for aerial manufacturers. Some, such as Mayville, Stratolift and Snorkel are essentially no longer around. Grove and Genie have been acquired. Skyjack and UpRight have certainly had their problems and even JLG's profits have been down. How do you see the next couple of years?
We believe the shakeout and transition of our industry follows the same sequence of events as experienced by other industries. The industry will settle on two to three major manufacturers that offer a full line of platforms and services with a handful of smaller, niche players that will develop specialized products.
Do you expect to see more consolidation among manufacturers, aerial and otherwise?
In the past you saw several manufacturers that were aerial work platform only. Most of these companies tried to grow by expanding their manufacturing either to produce more aerial work platforms or complementary products resulting in there being virtually no “AWP-only” manufacturers — there is little room for further consolidation. We see growth in consolidation between construction equipment manufacturers that may or may not involve AWP's. It will be successful for those companies that can gain more efficiency as a result.
Do you expect to see more growth and consolidation among national rental companies or do you foresee more growth among smaller, independent rental companies in the coming years?
Rental, as an industry, is still searching for the most efficient means of delivering product to end-users. We believe strongly that the rental concept is the best means for aerial work platforms and that for telescopic material handlers the rental concept is becoming more popular. We believe there will be more variation in how rental companies are organized and that there is not one “best” way. There are various end-users out there and they need to rent products from a mix of specialists, generalists, independents, national chains, and/or some other entity that can supply rental equipment. We believe these rental channels will continue to develop to achieve balance. It is still a young industry.
What kind of innovations do you expect to see over the next few years in aerial equipment?
For aerial equipment, we see innovations focusing on specific end-user needs. The Workstation in the Sky Series from JLG this year was just the first step. Application specific accessories will increase productivity and enhance the end-users' experience making the aerial work platform a tool of the trade.
Are your customers requesting to see electronic advancements, such as ability to buy parts electronically, view invoices electronically and diagnose equipment through the Internet? If so, what types of services are they requesting and what types of electronic advancements are likely to be on the horizon?
For the future, we believe that this will still remain a relationship business and that “technology for technology's sake” is not always the ideal solution. With that being said, we have implemented several technologies for electronic warranty and parts processing — this saves time and cost for JLG and our customers.
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