Altec Industries is actually very little talk, but lots of action. Altec manufactures lift trucks, digger derricks, and specialty handling equipment used by electric utility, telecommunications, and forestry industries, and various government branches. After-sale services and parts are offered worldwide, as well. Altec's used equipment is sold through sister subsidiary National Utility Equipment Co., and rented through Global Rental Co., also in the Altec family. Altec offers financing, too, through Altec Capital Services. The equipment maker's production, assembly, and service facilities crisscross Canada and the US. Founded in 1929, Altec is owned and led by its founder's third generation, Lee Styslinger III.
The company also offers supplies, such as tools and accessories, through its Altec Supply subsidiary, which operates about 200 facilities nationwide. Its Altec Environmental Products business supplies brush and tree chippers to the tree care industry.
Altec Industries will look to expand its presence and product offerings to select US areas. In 2010 The company agreed to acquire certain assets of Morse Manufacturing. Morse makes drum handlers and dollies, something new for Altec to offer its New England and Mid-Atlantic customers. Morse's production plant in Massachusetts will be used by Altec to assemble its truck mounted aerial lifts, digger derricks, cranes, and bodies.
Another part of Altec's growth strategy is to expand its distribution network. In mid-2010 the company teamed up with Ohio-based ALT Sales, a division of ALL Family of Companies, to distribute Altec branded cranes. In addition to ALT, Altec's products are also distributed by Custom Truck & Equipment.
Operations in the US have been bolstered by defense supply contracts for Altec's specialized equipment, such as its telescopic truck cranes and digger derricks. The company also collaborates with the Occupational Safety and Health Administration (OSHA), an arm of the US Department of Labor, to promote safe operation of its vehicles.
Partnerships in clean fuel markets are spurring Altec's growth, too. In 2009 Altec joined with several companies, led by Eaton Corp., in securing a $45 million federal grant for plug-in hybrid electric power systems deployed in utility and municipal truck fleets. The initiative was the largest commercial hybrid launch in the US, since the hybrid technology's inception.
Also on the electric power front, the company teamed up with Smith Electric Vehicles US Corporation to roll out an all-electric work truck with an Altec aerial boom. The project is supported by Pacific Gas and Electric Company, which intends to test the vehicle in its overhead line work. Altec's capacity for servicing such operations expanded with the acquisition of Lift-All in early 2009. Lift-All manufactures aerial work platforms, demanded by high-altitude electric transmission line activities.
Not just confined to North America, Altec Industries is expanding its footprint abroad. Its products are used in 120 countries throughout Asia/Pacific, the Caribbean, China, EMEA (Europe, Middle East, and Africa), India, Latin America, and Russia. – less