HAT BUYS CLARK ASIA

News Story
- 10 Apr 2003 ( #102 ) - SEOUL, Korea, Republic Of
1 min read
Young An Hat Co (YAHC) has taken over Clark Material Handling Asia (CMHA) following its acquisition of Clark Material Handling Company (CMHC) in January.

YAHC's buyout bid for Clark Material Handling Europe failed last week after it was rejected by employees.

CMHA, the South Korean subsidiary of CMHC, was created when Clark bought the forklift division of Samsung Heavy Industries in July, 1998. The Asian operation went into receivership when CMHC was taken over on January 31.

CMHA creditors told Asia Pulse YAHC would assume all capital and employees at CMHA, pending the approval of creditors, such as the Korea Development Bank and its shareholders. The hat maker did not reveal its acquisition bid.

YAHC, which holds more than 40 percent of the world hat market, also owns hotels, farm equipment production facilities, a supermarket chain and multiple bus manufacturing operations. It has more than 4,000 employees worldwide and estimated sales of US$750 million in 2003.
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CLARK OFFER REJECTED, CLARK MHE GOES BUST News Story - 3 Apr 2003 - MULHEIM, Germany - 2 min read
THE BATTLE FOR CLARK EUROPE HEATS UP News Story - 20 Mar 2003 - MULHEIM, Germany - 2 min read
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From fun filled team photos to the latest product highlights, our ProMat gallery will help you re-live the glory of last week's event in Chicago.

The materials handling community has already shared some fantastic photos - and it's still not too late to contribute!  

Read the first of our special ProMat coverage where Angie Kay examines the under-utilisation of data in our sector.