Forklift News - NISSAN, MITSUBISHI FORM GLOBAL FORKLIFT ALLIANCE

MARENGO, USA -- Nissan Motor Co Ltd and Mitsubishi Heavy Industries (MHI) Ltd have reached an agreement on a global alliance of their forklift businesses.

The relationship is expected to widely integrate the businesses, from product development to marketing.

A statement said Nissan had been looking for an appropriate business partner to "better compete and grow in this fiercely competitive" global forklift industry.

"This alliance is the result of careful consideration and will help both companies achieve their goal of being a major player in the world markets in which they participate," the statement said.

Nissan executive vice president Hisayoshi Kojima said the forklift truck market was becoming more competitive.

"We need to compete with other top forklift makers, using synergies from this alliance," he said.

"We will continue to supply competitive, high-quality products in collaboration with MHI to satisfy our world customers, and together we can compete with the combined resources as one of the largest forklift groups in the market worldwide."

World business publications reported the two companies would jointly develop and market forklifts, including parts procurement and product development. The alliance would account for about 15% of the world market, rivalling the world's leader, Linde AG, which has a share of about 16%. NACCO Materials Handling Group is understood to have a similar share in the world market, through its Hyster and Yale brands.

Mitsubishi and Nissan will immediately start cooperative activities in the joint development of new models, and expand the cross-supply of products to strengthen each other's lines.

"This alliance is not a business transfer, merger or acquisition. It brings together both companies in a spirit of equal partners," Nissan ForkliftCorporation North America president Mark Akabori said. "Current brand names and dealer networks will remain unchanged."

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