Konecranes and the KION Group have finalised collaboration for a container handling forklift business announced in February (Forkliftaction.com News #604).

Based on the agreement, Konecranes is now the long-term supplier of container handling forklifts to the worldwide distribution network of Linde Material Handling, which is wholly owned by KION Group.

Both companies will continue to offer a full range of container handling forklifts, including reach stackers, empty container handlers and laden container handlers.

Konecranes has also acquired some assets, including the product rights for container handling forklifts from Linde Material Handling, for which the value is not disclosed. Linde Material Handling will initially continue to produce container handling forklifts while Konecranes will use the product rights to further enhance its product range. Konecranes will ultimately produce all container forklifts at its factories.

Theodor Maurer, a member of KION Group's executive board and CEO of Linde Material Handling, says closing the strategic collaboration with Konecranes is an important milestone for the company.

Meanwhile, Lars Fredin, vice president and head of business, unit lift trucks, at Konecranes, says the company expects "to grow substantially both in equipment sales and spare part sales".

"This transition will prove to be very positive for our own distribution and for Linde distributors. With this acquisition we are now positioning ourselves as one of the biggest suppliers in our industry which fits very well into our long-term strategy," Fredin says.

The acquired assets will be consolidated into Konecranes' financial reporting in the second quarter of 2013.

Product support and spare parts orders will be transitioned over the coming months. Distributors and customers will be notified when the transaction is completed. According to the two companies, the transition period's objective is to ensure a high level of customer support is maintained.