JLG Manufacturing Central Europe, a subsidiary of American designer, manufacturer, and marketer of access equipment (aerial work platforms and telehandlers) JLG Manufacturing, has decided to close its Romanian factory within one year, Profit.ro reported. The plant hires 570.
The decision came as a surprise, as the latest financial reports show a robust business: RON 104.5 mln (EUR 23.2 mln) revenues and RON 11 mln (EUR 2.4 mln) net profit in 2018.
Furthermore, the parent group received a large order linked to, among others, Romanian customers. Last summer, the Department of Defense in Washington awarded Oshkosh Defense LLC, part of Oshkosh Corporation and the parent company of JLG Manufacturing, a contract for military tactical vehicles of medium size (Medium Tactical Vehicle). The vehicles will be manufactured at the company's Wisconsin facility, the estimated date of completion of the order being August 2021. The contract is worth USD 320 mln, and the clients are the armed forces of Argentina, Djibouti, Iraq, Lebanon, and Romania.
(Photo source: Oshkoshdefense.com)