Ken Pustizzi, president and CEO of Trico Lift, Millville, N.J., and Dave Griffith, president and CEO of Modern Group Ltd, Bristol, Pa., today announced that the two firms have entered into a strategic alliance to better serve their respective customers and stakeholders.
Trico Lift will assist Modern with the marketing of Modern’s industrial forklift, power systems, and material handling products and services to its customer base, and Modern will assist Trico Lift with marketing Trico Lift’s aerial lift products and services to its customer base. As part of the agreement, Modern will sell a portion of its aerial lift assets to Trico Lift, thereby increasing Trico Lift’s fleet size to 4,000 units. Trico Lift and Modern will also collocate facilities in King of Prussia, and Allentown, Pa. In addition, Trico Lift will acquire Modern's Baltimore, Md., branch.
According to company officials, the respective companies have unique business models that, with dedicated focus on the customer base, will improve customer service levels and leverage the financial performance and investments of both firms. In announcing the alliance, both Pustizzi and Griffith say they are focused on the region’s industrial markets and that the strength of the partnership will bring benefits for their common customers, employees and shareholders.
“The arrangement with Modern enables both companies to remain focused on their core competencies and creates an even stronger opportunity for both organizations to grow in our common target markets,” said Pustizzi. “However, the most important benefit will be the opportunities the partnership will bring to our employees, our customers, and our future customers.”
Modern admire Trico Lift “as a market leader whose customer focus is aligned with Modern’s,” said Griffith. “The agreement to collocate in King of Prussia and Allentown is an innovative alliance and will allow us both to better serve our customers.”
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