WASHINGTON—Stan Simpson, president of the Industrial Truck Association (ITA), told attendees of the ITA spring meeting on April 1 that the association is pursuing “some extraordinary actions” due to the economic downturn.
Forkliftaction.com reported that Simpson said the market has been off at least 50% since last December, but it has leveled off. He also said this year will be the worst since 1991, and recovery seems several months away.
As a result, the ITA cancelled the executive committee meeting in January and handled the work electronically. It also plans to cancel its participation in the Material Handling Equipment Distributors Association convention in May.
The ITA has also cancelled other sessions and meetings due to the cost to member companies which would have to pay travel expenses to attend.
Under board direction, the ITA staff is also exploring ways to reduce attendee costs for the association’s annual meeting during later this year in Austin, Texas.
Simpson also said that ITA is financially healthy, with $349,000 in the association’s reserve fund as of Dec. 31, according to Forkliftaction.com.