CVS Ferrari has bought fellow container handling equipment manufacturer Belotti. The price has not been released.

Belotti will join the company as a new entity named Ferrari Belotti, which will be controlled by the CVS Group.

CVS, in a statement, said synergies from the purchase would be derived from joining the two companies' engineering and production operations, which would "give us the necessary boost in these exciting times of containerisation".

Belotti customers would receive service and sales support through both companies' existing networks. The company would not be drawn on likely job losses or rationalisation of activities.

The Belotti acquisition comes soon after CVS Ferrari announced alliances with Taylor in the USA and Komatsu in Japan.

CVS Ferrari, a leading manufacturer, was established in 1973 and has eight factories in northern Italy and almost 300 employees. CVS Ferrari is represented globally, with offices in the USA, China, Hong Kong, Singapore, Thailand, Brazil and South Africa and dealers and distributors on all continents.