OSHKOSH (NBC 26) — Oshkosh Corporation announced a definitive agreement on an $800 million deal to purchase AeroTech from JBT Corporation Tuesday morning.
Oshkosh Corp. officials caution that the deal, which is expected to be the second biggest acquisition in the company's history, has not yet been finalized, they hope it will make a big difference for the company and community.
John Pfeifer, President and CEO of Oshkosh Corp., said he's "really excited" about the deal. Pfeifer explained AeroTech is the company behind jetways and other types of ground vehicles that support planes at the airport. He says AeroTech will fit in well with the rest of Oshkosh Corp.
“The technology needed with AeroTech’s business is the same technology needed to advance our current businesses," Pfeifer explained. "It’s autonomous functionality, it's intelligent products and services…that’s what we do really well at Oshkosh Corporation.”
Although Pfeifer says that most of AeroTech's operations will remain at their current sites in Utah and Florida once the deal is complete, he still thinks the sale will bring a boost to Northeast Wisconsin.
“Whenever we’re healthy, it helps Oshkosh be healthy," he said. "We wanna be here in this community, we want to give back to this community, we want the community to benefit from the growth we provide in the community, and we benefit a lot from being in this community.”
Oshkosh resident Cora Strand agrees that Oshkosh Corp. has helped the community.
“Oshkosh Corp. clearly has brought a lot of job opportunities to Oshkosh in general," Strand said. "Oshkosh Corp. has actually really brought in a lot of diversity, equity [and] ethnicities [to the area].”
Strand says Oshkosh Corporation's new $800 million planned acquisition is "probably going to be big" for the city as well.
Pfeifer said he hopes the sale will be finalized sometime in July.
