Market Overview

ACME Lift Company Announces Hitachi Construction Machinery Equity Investment


ACME Lift Co. (ACME) announces that Hitachi Construction Machinery Co.
Ltd. (HCM) Group has acquired a 33.3 percent equity position in ACME.

This new joint venture will add HCM earthmoving equipment to ACME's
fleet, which will be made available through ACME's proprietary re-rental
operations to equipment rental companies across North America.

In conjunction with HCM's equity investment, ACME has restructured its
balance sheet to significantly reduce its debt service costs and to
provide substantial liquidity to fund its future fleet growth and
expansion plans.

"ACME's rental customer base has been increasingly requesting both wheel
loaders and excavators on a re-rental basis," said Woody Weld, ACME
chairman and chief executive officer. "This new partnership with Hitachi
Construction Machinery will allow every retail construction equipment
rental company in the North American marketplace to have access to a
full range of well-proven and highly regarded Hitachi earthmoving

"ACME brings to the venture unique expertise in re-rental of various
equipment product classes. Joining forces with ACME furthers HCM's
strategy to strengthen its value chain business," said Yasushi Ochiai,
executive vice president in charge of international business for HCM.

HCM will support ACME through the utilization of its existing North
American distribution channels. HCM intends to expand ACME's earthmoving
equipment re-rental business and provide overall business support.

ACME will create regional support centers for its equipment rental
fleet, serving all the major market areas in North America. Once this
operational footprint is established, ACME intends to serve its
customers' re-rental requirements from a local rather than national
supply base. This will create superior product support and logistical
service capabilities closer to each customer and job site.

ACME, based in Mesa, Arizona, was established in 1997 and now has the
largest selection of the newest aerial lifts reaching up to 185 feet,
the latest 8,000- to 40,000-pound telehandlers, and large portable air
compressors available for re-rent. For more information, visit

Hitachi Construction Machinery Co. Ltd. is one of the world's largest
manufacturers of wheel loaders, excavators and mining haul trucks and

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