Newsletter #075 (View other news stories)
HYSTER ENTERS HUNGARY THROUGH ZEPPELIN-KOROS-SPEDIT DEAL
BUDAPEST, Hungary
Thursday, 19 Sep 2002
Zeppelin-Koros-Spedit Kft is the newest addition to the Hyster forklift distributor network, opening in Hungary last week.
Zeppelin-Koros-Spedit chief executive Istvan Kovacs said the company was aiming at a 10 percent share of the Hungarian forklift market within three years, and 13 percent within five years, an MTI-Econews report said.
Zeppelin-Koros-Spedit, a wholly-owned subsidiary of Koros-Spedit Rt, became the official vendor of Hyster in Hungary under an agreement between Hyster Europe and Zeppelin Osterreich GmbH, a distributor of Caterpillar equipment.
Mr Kovacs said the company hoped to reap HUF1.5 billion (USD6 million) in revenue from the forklift market in Hungary a year.
He said 2600 materials handling machines, worth HUF9 billion (USD36 million), were sold in Hungary in 2001, including 1600 forklifts, worth HUF7 billion (USD28 million), and another 1000 related machines, worth HUF2 billion (USD8 million).
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