Hoist Liftruck Manufacturing Inc has sold its E Series forklifts to Schaeff Inc for an undisclosed amount.

Hoist Companies (Hoist Liftruck, Elwell Parker, AutoLift and Schreck Industries) had marketed the E Series 7,000# to 12,000# since early 2001 through Hoist, Elwell Parker, Clark, and Komatsu dealers in the USA and the UK.

But, after three years of research and development, Hoist will finish building and deliver its current orders by late April.

Hoist president Marty Flaska said the sale had caused an "unavoidable delay" in the production schedule.

"Schaeff will continue building this product under its company label and expects to have products in production by [the] third quarter 2004," he said.

"Schaeff will accept orders in the immediate future ... Hoist Companies will no longer be involved. Schaeff will honour warranty commitments for this product and provide after-market support for models built and sold by Hoist Companies as well."

Hoist would continue to produce its heavy compact forklifts and large counterbalance machines.