Strategic Alliance Between

Exhibit 10.21


STRATEGIC ALLIANCE BETWEEN
GROVE WORLDWIDE AND SKYJACK


SHADY GROVE, PENNSYLVANIA [FEBRUARY 11, 2000] - Skyjack Inc. and Grove Worldwide LLC announced today they have reached agreement in principle to a far reaching strategic alliance for the purpose of marketing, selling, and providing product support to North American large rental customers. The agreement also provides for joint supply/manufacture of scissors and boom type aerial work platform products. It includes agreement for distribution of each company's products through their respective existing distribution channels.


Jos Wintermans, newly appointed President and CEO of Skyjack Inc. commented, "Skyjack Inc. and Grove Worldwide are both well respected manufacturers of aerial work platform products. This alliance combines the strengths of each. The alliance will allow Skyjack and Grove to present a single point of contact for consolidation customers."


Jeff Bust, Chairman and CEO of Grove Worldwide noted, "Because of Skyjack's strength in scissors products and Grove's strength in boom products, this alliance is a totally complementary fit for both companies. We will have final negotiations complete by April of this year, but both companies are already working together as a team to facilitate business as an alliance. Our plans are to negotiate a set of agreements for joint supply of each company's products, merge our combined product offerings, coordinate sales/service activities and form a joint venture dedicated to serving the large rental customers as a single point of contact, representing both companies."


Wolf Haessler, Chairman of Skyjack Inc. commented further, "I will be directly involved in the management of the alliance as I want to get close ...