Konecranes will buy assets of the container handling truck business of Linde Material Handling, which is wholly owned by the KION Group.

Both parties have also signed a long-term supply agreement and will collaborate to boost the global competitiveness of their container handling truck activities.

The value of the assets to be purchased is confidential. The transaction is expected to finalise in the second quarter of 2013.

The two companies will keep reach stackers, empty container handlers and laden container handlers in their portfolio but over time, all manufacturing will be located in Konecranes factories.

Konecranes has acquired product rights from Linde Material Handling and will have access to the latter's distribution network.

The partnership aims to improve economies of scale in research and development and manufacturing, and enable the companies to continue offering container-handling trucks to their distribution channels.

"We are happy to work with Konecranes. This global collaboration with one of the leaders in this segment will significantly improve our container handling offerings to the customers of the Linde brand," says Theodor Maurer, CEO of Linde Material Handling.

Konecranes head of business area equipment Hannu Rusanen adds that the group's forklift business has been a "strong performer" and that the acquisition will open a wider distribution network for the combined reach stackers and empty container-handler offering.

"We look forward to working with Linde and (its) distributors. Together, we are stronger in the market," Rusanen says.

The KION Group, comprising the six brands Linde, STILL, Fenwick, OM STILL, Baoli and Voltas, is the world's second-largest industrial truck maker. Konecranes, which is listed on the NASDAQ OMX Helsinki, provides lifting solutions and services for lifting equipment and machine tools globally.