RICO’s Financial Strength: Why it matters to you

Q:  When should you look into a supplier’s financial security?  

A:  BEFORE your order is delayed or never filled due to bad credit or lack of cash.

We see it happen time and again.  Customers choose a specialty lift truck supplier based on price – and regret it later because their order is held up for months or even a year or more.  Or they’re asked to pay more than the original down payment after the process starts.  That’s what happens when a supplier’s credit is delayed or suspended … or when they can’t afford to purchase raw materials or begin the work before being paid by the customer.

That’s why we ask you to compare our finances with our competitors:

Take a Minute — to Research RICO’s Financial Strength

In the history of our company, we have never had to borrow money. RICO has never even operated with a bank line of credit. Our buildings, machines and equipment are always paid for in cash — and paid-in-full at the time of purchase. 

This is almost unheard of in the capital intense manufacturing sector.

RICO believes financial stability will become an increasingly important factor for customers contemplating the purchase of an application designed lift truck.  Several companies in our industry have been shut down by their banks in recent years, with assets acquired and re-acquired. Each time that happens, product knowledge, support and fair pricing on replacement parts are at risk.

With all the recent corporate financing scandals, customers are paying closer attention to the people they do business with. So it only makes sense to ask…

How does RICO financial strength benefit our dealers and customers?

You benefit with:

  • Controlled cost of product as RICO is not bank dependent and no debt or financing charges are passed on to our customer
  • Highest quality of material only domestic steel is used on our product that has been certified and tested
  • Highest quality components we use only industry proven components providing increased product run time saving you money
  • Peace of mind and security when ordering specialized equipment with long-term delivery  you’re assured your vehicle is our priority
  • Quicker product delivery because RICO has the cash to continually reinvest in equipment and reduce deliveries
  • Less downtime due to our extensive inventory investment of  new production components and field support parts, many are readily available for same day shipment with no delays
  • Reliable long-term equipment support for years to come we will be there (We still support our products produced 30 years ago)

Go Ahead. Compare Us to Our Competitors. Dare to Compare!!!!

RICO is proud to use Dun & Bradstreet as an unbiased source of financial information and industry bench marking.  D&B provides pages and pages of information on credit scores, financial stress models, performance ratios and more.

We strongly suggest using D&B financial reports as part of any supplier evaluations. The D&B Comprehensive Report is meticulously researched and continuously updated, along with in-depth evaluation of a company’s financial stability. The Comprehensive Report offers the greatest level of detail and can often be purchased for about $150. This is a small price to pay for peace of mind when you’re spending upwards of $100,000 on material handling equipment with down payments typically required.

For your reference, we provide the RICO Duns Number along with our competitors’ Duns Numbers. You may order D&B Comprehensive Reports at www.dnb.com. Simply reference the company’s Duns Number.

 RICO Manufacturing
 American Specialty Equipment, Inc.(a.k.a. Gregory Industrial Trucks)
 Hoist Liftruck Manufacturing
 Elwell Parker (d.b.a. Hoist Liftruck)
 Schreck (d.b.a. Hoist Liftruck)
 Sroka Advance Vehicles