JLG Industries, Inc.
1 JLG Drive
McConnellsburg, PA 17233-9533
Telephone (717) 485-5161
Fax (717) 485-6417
www.jlg.com
Exhibit 99.1
Press Release
FOR IMMEDIATE RELEASE
Contact: Juna Rowland
Vice President – Corporate & Investor Relations
(240) 313-1816, ir@jlg.com
JLG ANNOUNCES PROPOSED OFFERING OF COMMON STOCK
McConnellsburg, PA, March 1, 2005 –JLG Industries, Inc. (NYSE:JLG) announced today its intention, subject to market and other conditions, to sell 4,700,000 shares of common stock in an underwritten public offering made from a shelf registration that became effective in December 2003. The underwriters would have an option to purchase up to an additional 705,000 shares to cover over-allotments.
JLG intends to use approximately $68.1 million of the net proceeds from the offering to redeem up to 35 percent of its outstanding 83/8 percent Senior Subordinated Notes due 2012 and to use the balance for general corporate purposes. UBS Investment Bank is acting as the sole lead manager on this offering. SunTrust Capital Markets, Inc. and Harris Nesbitt Corporation are acting as co-managers.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the common stock. The offering of common stock may be made only by means of a prospectus, a copy of which will be available from UBS Investment Bank at 299 Park Avenue, New York, New York 10171, Attention: Syndicate Desk.
JLG Industries, Inc. is the world’s leading producer of access equipment (aerial work platforms and telehandlers) and highway-speed telescopic hydraulic excavators. The Company’s diverse product portfolio encompasses leading brands such as JLGâ aerial work platforms; JLG, SkyTrakâ, Lullâ and Gradallâ telehandlers; Gradall excavators; and an array of complementary accessories that increase the versatility and efficiency of these products for end users. JLG markets its products and services through a multi-channel approach that includes a highly trained sales force and utilizes a broad range of marketing techniques, integrated supply programs and a network of distributors in the industrial, commercial, institutional and construction markets. In addition, JLG offers world-class after-sales service and support for its customers. JLG’s manufacturing facilities are located in the United States, Belgium, and France, with sales and service operations on six continents.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance, and involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, the following: (i) general economic and market conditions, including political and economic uncertainty in areas of the world where we do business; (ii) varying and seasonal levels of demand for our products and services; (iii) competition; (iv) risks from our introduction of new products; as well as other risks as detailed in the Company’s SEC reports, including the report onForm 10-Q for the quarter ended January 30, 2005.
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