Hino celebrates grand opening of West Virginia facility
Hino, based in Novi, Michigan, ushered in a new era of manufacturing capability during a recent grand opening ceremony of its new facility in Mineral Wells, West Virginia.
State and local government officials, dealers, customers, suppliers and media took part in a tour of Hino’s 1-million-square-foot facility, a tree planting tradition and a ceremony to commemorate Hino’s growth commitment to the U.S.
“Hino is committed to building its trucks and products in the market it operates in. We have committed $100 million in capital investment into our new state-of-the-art manufacturing facility, generating 250 new jobs,” says Hino Motors Ltd. President and CEO, Yoshio Shimo, who attended the event. “Today, I am excited to announce an additional commitment of $40 million in investment to meet increased demand and product configurations, creating an additional 250 new jobs, totaling 800 team members.”
“Hino has been a tremendous partner to the state of West Virginia since 2007,” stated West Virginia Governor Jim Justice. “With 800 West Virginians planned to be employed by Hino, they continue to be one of West Virginia’s biggest employers. We thank Hino for their continued investment in the great state of West Virginia.”
Hino’s first truck rolled off the assembly line at the new plant in June, where it will continue to assemble all class 6, 7 and 8 conventional trucks, including its newly released class 7 and 8 XL Series. The new facility can produce 15,000 trucks a year on one shift, providing Hino the capacity it needs to continue to grow in the U.S., the company says, adding that it is the one of the fastest growing commercial truck brands in the country.
Genesis Attachments promotes North American sales director
Genesis Attachments, Superior, Wisconsin, has announced that Justin Palvere has been promoted to North American sales director at the company. In this role, Palvere will manage sales and channel strategy, as well as the Genesis regional managers and sales territories in the U.S. and Canada.
Genesis Attachments reports that Palvere began his career with the company in manufacturing 12 years ago and has since held numerous positions that include Southeast regional sales manager, Midwest regional sales manager and, most recently, national account manager for demolition.
Genesis Attachments, an NPK Company, is a global leader in the design and manufacturing of shears, grapples, concrete processors and specialty attachments for scrap processing, demolition, material handling and offshore decommissioning industries.
Takeuchi Mfg. announces first president change in company’s history
Takeuchi Manufacturing Co., a compact equipment manufacturer with U.S. headquarters in Atlanta, recently announced several changes in leadership at its annual shareholders meeting. Founder and President Akio Takeuchi has stepped down from his role, and his son, Toshiya Takeuchi, will now serve as president of the company. He is the second president in the history of Takeuchi Manufacturing, which was founded in 1963.
Additional appointments include Takeuchi-US President Clay Eubanks to the board of directors. Eubanks has been with Takeuchi US for more than three decades. In his early years, he held various positions within the sales group before he was promoted to manage the sales team. Eubanks was named president in 2003, and under his leadership and guidance, Takeuchi US has reached new sales goals and gained market share throughout the U.S. and Canada, the company says.
“I am honored and humbled by this appointment to the board of directors. I have watched this company grow to become the company it is today,” Eubanks says in a press release. “When you have been a member of a company for as long as I have, it’s more like family. I am very proud of this company, its employees and where we are in the industry. I couldn’t ask for a better place to be.”
Eubanks’ role now includes director of global sales. He will be working closely with other subsidiaries and distributors to grow sales and expand their market share.
Morbark acquired by Alamo Group Inc.
Stellex Capital Management, a middle-market private equity firm with offices in New York and London, has announced it has entered into an agreement to sell Morbark LLC to Seguin, Texas-based Alamo Group Inc. for $352 million.
Founded in 1957 and based in Winn, Michigan, with subsidiary operations in Wooster, Ohio, and Roxton Falls, Québec, Morbark has been a manufacturer of equipment and aftermarket parts for forestry, tree maintenance, biomass, land management and recycling applications for more than six decades. Morbark’s family of companies manufactures mobile equipment and aftermarket parts used for clearing and grinding/chipping and converting trees, wood and related organic waste in maintenance and recycling applications. The company and its affiliate brands produce a full line of brush chippers, stump cutters, mini skid steers, forestry mulchers, aerial trimmers, whole tree and biomass chippers, flails, horizontal and tub grinders, sawmill equipment, material handling systems and mulcher head attachments for excavators, backhoes and skid steers.
“Our investment in Morbark demonstrates our ability to rapidly transform family-run industrial equipment businesses into best-in-class providers within their industry,” says David Waxman, managing director at Stellex Capital. “We would like to thank the Morbark team for their strategic vision, dedication and execution over these past 3 1/2 years. We are very proud to have worked alongside them transforming Morbark into a leading provider of mobile industrial equipment and believe the company is well-positioned to continue to capitalize on the strong market tailwinds within biomass recycling and tree care maintenance.”
Since Stellex’s acquisition in 2016, Morbark has increased its headcount by over 200 employees, revenue has nearly doubled and EBITDA has increased by over 200 percent, the company says.