Forklift News - CASCADE, RONCARI WORK TO LINK BUSINESSES

Cascade Corp has acquired Roncari Srl, and management teams will now jointly discuss with agents how to blend an overlapping global network.

The deal increases Cascade's penetration of standard and specialised forklift attachments in Roncari's home country of Italy, Richard Anderson, Cascade senior vice president and chief financial officer, said.

Roncari employs 70 and has annual sales of USD12 million. That would add about 5% to Cascade's business volume.

The acquisition "gives Cascade better in-country access to the Italian market and all the European countries", said John Rogers, a securities analyst with DA Davidson & Co.

"We have complementary products we will offer jointly to the market," said Terry Cathey, Cascade senior vice president and chief operating officer. "It is our intention to maintain both brands and make sure we continue to provide our customers with a broad range of price (and) performance options."

The Roncari family established the company in 1967. Beyond its Italian base, Roncari has European agents in West-Milton Keynes, England; Barcelona, Spain; Soltz, France; Hertogenbosch, the Netherlands; and Rimforsa, Sweden.

In recent years, Roncari has developed agent relationships elsewhere in Thailand; Singapore; Jakarta, Indonesia; Australia; New Zealand; and, most recently, Friendswood, Texas.

In comparison, "Cascade has the leading share in each major market in the world", Mr Cathey said.

Co-founder Giuseppe Roncari has headed the acquired business since the takeover, though it is not clear if he will remain in the role. Other active family members include sales director Maurizio Roncari, technical director Davide Roncari and marketing head Michela Roncari.

In Vago do Lavagno, Italy, the 6,000 square metre (64,800 square feet) Roncari plant uses work centres, robot welding stations and systems such as 3D parametric modelling, finite element analysis and production planning.

Roncari's products assist cargo movement on forklift trucks, with fixed-position equipment, and in automated warehouses. The products include side shifters and fork positioners, clamps for a variety of applications, and rotating, tilting and materials handling equipment.

Specialised attachments are made for the paper, grocery, forging, metals and concrete industries. Roncari also makes intermodal container handlers and ship-to-shore handling accessories.

Cascade and Roncari signed a preliminary agreement on September 11, and completed the transaction on October 21. Cascade paid USD6.5 million in cash for Roncari.

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