Business Description:
The client company is a C Corporation that designs and manufactures automated guided vehicles (AGVs). They have a substantial inventory of used vehicles and provide parts and service for both their own AGVs and those of various other OEMs. AGVs made by our client are used in a wide range of applications. The most common are material handling and manufacturing. The warehouse forklift without a driver is a materials handling application. In manufacturing, AGVs are used as an alternative to an assembly line. Work- in-process can be transported and positioned in four dimensions (x, y, z and r) either as pre-programmed or as required. The customer base for the client's AGVs includes automotive and heavy equipment manufacturers as well as mid-size companies in such industries as printing, plastics injection molding and electronics to name a few.
Revenues had historically been in the range of $1 million per year but dropped sharply in 2009 as a result of global economic conditions. They continue to have an active pipeline of system projects with the strongest focus on used machines from their inventory
