OmniQuip Announces Resignation of Chief Financial Officer
Business Wire - November 06, 1998 12:53
PORT WASHINGTON, Wis.--(BUSINESS WIRE)--Nov. 6, 1998--OmniQuip International, Inc. (NASDAQ/NMS:OMQP) today announced that Philip G. Franklin, 47, the company's vice president-finance and chief financial officer, has resigned for personal reasons and has accepted a position as chief financial officer of a company in the Chicago area. Franklin, who joined OmniQuip in July 1996, will leave the company prior to December 31, 1998.
"We presently have an active search under way and are interviewing candidates for this position. We anticipate an orderly transition when the position is filled," said P. Enoch Stiff, president and chief executive officer of OmniQuip. "As part of our management team, Phil has been a valuable contributor to OmniQuip's growth. We wish him well in his new position."
Headquartered in Port Washington, Wisconsin, OmniQuip International is the largest North American producer of telescopic material handlers, which are marketed under the SKY TRAK and LULL brand names. The company also manufactures aerial work platforms under the Snorkel name, skid steer loaders and power loaders and haulers. OmniQuip's products are used in a wide variety of applications by commercial and residential building contractors, as well as by customers in other construction, military, industrial and agricultural markets.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors including cyclical fluctuation in demand, manufacturing capacity constraints and production inefficiencies, stiffer competition from larger and better capitalized companies, the effects on price and margin of the rapid consolidation of distributors, field warranty campaigns for certain products, loss of, or reduced orders under the company's contract for the sales of ATLAS vehicles, the inability to make complementary acquisitions, or to integrate such acquisitions effectively, and risks associated with the substantial borrowings that have been and may be necessary to finance acquisitions. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements. Reference is made to the company's filing of Form 10-K for the fiscal year ended September 30, 1997 and Form 10-Q for the quarter ended June 30, 1998 for more complete information concerning forward-looking statements and the risks and uncertainties attendant thereto. The forward-looking statements made herein are only made as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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CONTACT: OmniQuip International
Phil Franklin, 414/268-3101
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