GRAND RAPIDS, Minn.--(BUSINESS WIRE)-- ASV Holdings, Inc. (the “Company”) (NASDAQ: ASV), a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, today announced it has received a new order from its largest rental customer for its compact track loaders (CTL) totaling approximately $2.0 million for delivery in the fourth quarter of 2017.
Jim DiBiagio, Chief Operating Officer of ASV commented, “This is the second large order received from this customer for delivery of equipment in 2017, which virtually doubles its most recent annual purchases of ASV machines. The higher level of equipment spending reflects the strength of current market conditions and outlook for 2018, as well as the high operational performance of ASV CTL machines in the rental applications covered by our customer. The ASV machines supplied under this order will be deployed across a number of additional rental locations, expanding the availability of the ASV CTL across the USA. This order provides some visibility into the fourth quarter of the year and is positive progress in our drive to increase our presence in the North American rental sector and deepen our brand recognition across North America.”
Machines supplied under the order are the RT30 and RT50 CTLs, that utilize the unique ASV Posi Track undercarriage with patented suspension and rubber tracks to provide industry leading performance including ground clearance, lower ground pressure and higher speeds. The RT30 is also widely recognized for its ability to operate in tight confined spaces due to its small dimensional footprint.
About ASV Holdings, Inc.
We design and manufacture a broad range of high quality compact track and skid steer loaders, and sell OEM equipment and aftermarket parts. Our patented Posi-Track rubber tracked, single and multi-level suspension undercarriage system provides a competitive market differentiator for our Compact Track Loader (CTL) product line with brand attributes of power, performance and serviceability. Our wheeled Skid Steer Loaders (SSLs) also share the common brand attributes. ASV equipment is sold through an independent dealer network throughout North America, Australia and New Zealand. ASV owns and operates a 238,000 square-foot production facility in Grand Rapids, MN.
This press release contains forward-looking statements. Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks detailed under “Risk Factors” in the Registration Statement on Form S-1 and in other filings we make from time to time with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
At Darrow Associates, Inc.
Peter Seltzberg, 516-419-9915
Managing Director, Investor Relations
At ASV Holdings, Inc.
Andrew Rooke, 218-327-5389
Chairman & Chief Executive Officer
Source: ASV Holdings, Inc.
Released September 21, 2017