ASV Holdings, Inc. Announces $5 Million Follow-on Order in North American Rental Market Channel
GRAND RAPIDS, Minn.--(BUSINESS WIRE)-- ASV Holdings, Inc. (NASDAQ: ASV), a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, today announced that it has received a new order for ASV Posi-Track compact track loaders (CTLs), valued at approximately $5 million.
The selection of the ASV RT-40 CTL recognizes the power, performance and serviceability features of the ASV, patented, Posi-Track driven machine that is uniquely suited to rental operators looking to operate a versatile machine in landscaping, general construction and snow clearance. This order, a follow-on from an initial order for ASV VT-70 machines late last year, is from a customer that is a leading industrial equipment rental company with multiple locations and maintains one of the largest industrial equipment rental fleets in North America. Initial deliveries are slated to commence in the second quarter of 2019.
Justin Rupar, Vice President of Sales and Marketing of ASV Holdings, Inc., commented, “We are glad to announce this substantial follow-on order from a great client with an extensive footprint in the growing and strategically important rental markets here in North America. We anticipate these machines will be distributed widely across this broad network, providing the unique ASV experience and unrivaled productivity of ASV compact track loaders to more users across North America. We’re looking forward to continuing to serve this customer with an exceptional product, parts and service platform that is synonymous with the ASV brand.”
About ASV Holdings, Inc.
ASV Holdings, Inc. is a designer and manufacturer of compact construction equipment. Its patented Posi-Track rubber tracked, multi-level suspension undercarriage system provides a competitive market differentiator for its Compact Track Loader (CTL) product line with brand attributes of power, performance and serviceability. Its wheeled Skid Steer Loaders (SSLs) also share the common brand attributes. Equipment is sold through an independent dealer network throughout North America, Australia, and New Zealand. The company also sells OEM equipment and aftermarket parts. ASV owns and operates a 238,000 square-foot production facility in Grand Rapids, MN.
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At Darrow Associates, Inc.
Peter Seltzberg, Managing Director, Investor Relations
At ASV Holdings, Inc.
Andrew Rooke, Chief Executive Officer
Source: ASV Holdings, Inc.
Released May 28, 2019