AIRTRAX BUYS MAJORITY STAKE IN FILCO

News Story
- 11 Mar 2004 ( #148 ) - HAMMONTON, NJ, United States
1 min read
Airtrax Inc, the US developer of the Sidewinder omni-directional forklift, will acquire 51% of Filco GmbH, the new owner of the formerly bankrupt Clark Europe.

Filco acquired Clark Material Handling GmbH, in Mulheim, Germany, last April (Forkliftaction.com News #104). The 200,000-square-foot plant in Mulheim is leased by Filco with an option to purchase.

Airtrax will buy the 51% interest in Filco from Fil Filipov, principal shareholder. In exchange, Airtrax will pay Mr Filipov EUR12,750 (USD15,590) and provide USD1.3 million in working capital loans over three months. Airtrax also gave Mr Filipov a seat on its board, and options to 900,000 Airtrax shares.

Airtrax president Peter Amico said: "Beyond the past sales and production capabilities attained at this facility, we hope the agreement will enable us to leverage Filco's established production facilities and European associations for our Sidewinder [forklift], as well as provide a platform for us to [market] private-label, non-omni-directional forklifts on a worldwide basis."
Briefs
Briefs 10 Jul 2025 - 1 min read
Best Line and Burwell expand in US
Best Line and Burwell expand in US 10 Jul 2025 - United States - 1 min read
Briefs
Briefs 26 Jun 2025 - 1 min read
Previously about:
Airtrax restates filings for two years News Story - 22 Jun 2007 - BLACKWOOD, NJ, United States - 1 min read
Airtrax names Robert Watson as CEO News Story - 2 Nov 2006 - BLACKWOOD, NJ, United States - 2 min read
Obituary: Airtrax founder Peter Amico dies News Story - 31 Aug 2006 - BLACKWOOD, NJ, United States - 1 min read
Airtrax delivers Sidewinders, copes with FiLCO News Story - 10 Aug 2006 - BLACKWOOD, NJ, United States - 2 min read
Airtrax’s first Sidewinder exhibited at ProMat 2005 News Story - 13 Jan 2005 - HAMMONTON, NJ, United States - 1 min read
AIRTRAX FILCO BUYOUT - TAKE TWO News Story - 22 Jan 2004 - MULHEIM, Germany - <1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

Combilift Ltd
Manufactures world class 4-way Handling Solutions

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Words of support …

At Linde Material Handling, we appreciate Forkliftaction for its competent and informative reporting and its global perspective. Forkliftaction is one of the few industry media with a transnational readership.

Heike Oder, Head of Trade Press

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

PREMIUM business

Hyster
Hyster is a world-leading provider of forklift trucks and services in the materials handling industry.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!