Recent News

Champion Elevators Focuses on Core Rental Business
Renamed McDonough Construction Rentals

Houston, TX - January 13th, 2006

McDonough Corporation, parent company of Champion Elevators, today announced that it has sold the manufacturing arm of Champion Elevators, Inc. to Alimak Hek. Terms of the agreement were not disclosed. The Alimak Hek Group is a global company that manufactures, installs, and maintains rack-and-pinion personnel and material elevators for various industrial and construction applications.

The sale includes the manufacturing facility and directly related manufacturing, service and after market sales activities of Champion Elevators, Inc as well as the Champion brand name. The existing Champion rental business will be renamed "McDonough Construction Rentals, Inc." and will continue to be headquartered in Houston, Texas with offices in Atlanta, Baltimore and Los Angeles.

"We are extremely pleased to announce this transaction. The formation of McDonough Construction Rentals, Inc. will allow us to focus on our high-growth core business and improve our standing as a vital player in the construction and industrial marketplace," said Dale Knight, CEO of McDonough Corporation.

"With one of the largest rental fleets in the industry, this step will allow us to gain needed synergies to grow and to serve our customers more effectively," added Jim Jensen, President of McDonough Construction Rentals, Inc.

For more information contact:
Charley Kinsey
Administration Manager
(713) 574-8101