SkyJack Finalizes European Production Agreement

SkyJack in Guelph, Ontario finalized a deal with Hungarian component manufacturer MezogÈp Rt. to produce scissor-lift aerial work platforms in Europe.

Production will be phased in over the next 12 months and when fully implemented, MezogÈp, a subsidiary of Linamar, will manufacture Skyjack's 18 models for sale to Europe. Skyjack will handle sales and service out of its European offices.

SkyJack officials said MezogÈp's location in the central part of the continent makes it ideal for penetration of European markets.

The company also laid off about 200 salaried and hourly-paid employees. In addition, the annual two-week summer production shutdown that began in late July was extended to at least five weeks. SkyJack said the measures were taken to reduce inventory levels, which have increased primarily due to slowing sales in North America.

For the fourth quarter ended March 31, SkyJack reported a larger-than-expected loss of US$2.98 million. Earlier, the company projected that loss to be in the $2.05-million to $2.45-million range.

SkyJack said it still expects to turn a profit for the full year.

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