Multiquip Inc. announced a series of initiatives designed to streamline the company and boost the efficiency of its business processes in order to more flexibly respond to market changes and better serve the needs of its customers.
Founded in 1973, Multiquip has grown to become one of the largest and most diversified equipment suppliers to the construction, entertainment and equipment rental industries. The general construction equipment (GCE) division develops, manufactures and distributes small-to-medium size construction equipment. The power division supplies power generation equipment principally to the construction, telecommunications, shelter/disaster recovery and entertainment industries.
Multiquip is a wholly owned subsidiary of New York-based ITOCHU International Inc. and its parent company, Tokyo-based ITOCHU Corporation.
Prompted, in part, by the global economic crisis, which has had a particularly severe impact on the construction industry, the changes constitute a new business model that will enable Multiquip to focus its resources on areas of importance to its customers. It also will position the company to respond to a rapidly changing market in the most efficient manner and put it on a path toward growth in the future, according to the company.
Under the new initiatives, Multiquip has consolidated and fully integrated the GCE and Power divisions into a single, right sized, function-based organization, eliminating redundancies and promoting efficiency. Promotion of a single Multiquip brand will be part of an intensified market focus. Efforts have been made to ensure that the reorganization will not simply be seamless to customers but will result in substantially improved support levels and response timeliness.
In conjunction with these initiatives, Multiquip announced that Gary S. Moskovitz, who previously served as the company’s executive vice president, has been named president and chief operating officer. Mike Howlett, former GCE division president will take over the new position of senior vice president of operations; former power division President Bob Graydon will take over the new position of senior vice president of sales, marketing and planning; Phillip D’Amato also has been promoted to vice president, human resources and corporate services and Torsten Erbel also has been promoted to vice president of product management, engineering and customer support. Michael Hanken continues as vice president of information technology and Jim Henehan continues as senior vice president of finance/administration and CFO.
“Multiquip has a very strong reputation for quality, reliability and service,” said Tom Yasuda, chairman and chief executive officer. “Our goal with these initiatives is to continue to provide our customers with the products and support they need, especially during these difficult economic times. Streamlining our business model and refocusing our resources will allow us to meet this goal and at the same time expand globally.
“Gary’s forward-looking perspective fits perfectly with our vision for Multiquip’s future, and I’m looking forward to his contributions not only on the customer side of the business but also in our continuing effort to strengthen long standing relationships with our strategic vendors.”
Newly appointed president and chief operating officer Gary S. Moskovitz commented: “I am confident that the new direction we have charted for Multiquip will enable us to maintain the qualities that have made us an industry leader — namely, a commitment to top-notch products and service — and will, at the same time, make us a more nimble and productive organization.”
“Multiquip has a well-deserved reputation as a top vendor to the construction, telecommunications, and entertainment industries, among others,” said Yoshihisa Suzuki, chief executive officer of ITOCHU International Inc. “The initiatives that the company has now announced will ensure the company’s continued leadership and growth.”