Major global cargo handling equipment supplier Kalmar Industries, part of Cargotec Corporation, in Finland, plans to buy US-based port equipment hire company Port Equipment Service (PES).

A Kalmar statement said the acquisition would "strengthen its position in US ports and create new opportunities with intermodal terminals".

Kalmar and PES have agreed not to disclose the transaction value, the statement said.

PES, based in Virginia, reported 2006 net sales of EUR4 million.

PES was established in 2001 and has 56 staff, mostly service technicians, who build, maintain and repair Kalmar and other brands of container and heavy materials handling equipment.

Kalmar production plants are in Sweden, Finland, the Netherlands, Malaysia, China and the US. Kalmar's net 2006 sales were EUR1.2 billion.

Cargotec Corporation is a major global provider of cargo handling solutions. Its class B shares are listed on the Helsinki Stock Exchange.