FiLCO GmbH has bought Clark Material Handling GmbH from its administrators, taking over up to 250 ex-Clark employees.

FiLCO, a German limited-liability company formed by the Filipov family, would remain focused on producing forklifts, a statement said. The purchase price was not revealed.

The company plans to launch a used forklift refurbishing centre for Clark forklifts. It will also manufacture private brands and complete machines for other companies.

Werner Faenger, who has more than 30 years of Clark experience, would become president and general manager of FiLCO.

"Our challenge will be to produce German quality products at the lowest possible cost, using the people, know-how and first-class manufacturing facilities here in Germany," Mr Faenger said.

No further details were available before Forkliftaction.com News's publication deadline.