Mitsubishi Nichiyu Forklift is poised to acquire UniCarriers

Speculation about the imminent takeover of UniCarriers has intensified with the Nikkei business daily reporting that Mitsubishi Nichiyu Forklift is poised to acquire its rival for more than JPY100 billion (USD817 million).

German forklift truck maker KION, the other potential buyer, has reportedly lost out in the bidding for UniCarriers, according to Frankfurter Allgemeine Zeitung, although no sources are named in the report.

While it was widely known that Mitsubishi was in the running to acquire UniCarriers, the negotiations have now been confirmed, according to reports in the financial press.

Innovation Network Corp of Japan holds nearly 53% of UniCarriers, while Hitachi Construction Machinery and Nissan Motor own the remaining stake.

The Nikkei report flags an initial agreement this month, with a final pact agreed to later in the year.

A takeover would create the world's third-biggest producer of forklifts. Together, Mitsubishi and UniCarriers will come in behind Toyota and KION Group in unit sales and turnover.

Mitsubishi Nichiyu Forklift Co. Ltd. was formed through the merger of Nippon Yusoki Co. Lt. and the Forklift Trucks section of Mitsubishi Heavy Industries Ltd.

Reports of moves to sell UniCarriers first emerged in April, but neither KION nor Mitsubishi would confirm their interest.

UniCarriers was formed in 2012 after Japanese companies Hitachi Construction Machinery Co Ltd. and Nissan Motor Co Ltd merged their forklift businesses, which are operated by Hitachi subsidiary TCM Corp and Nissan unit Nissan Forklift Co Ltd. (Forkliftaction.com News #576).

UniCarriers also has a foothold in the European market through Atlet AB, the longtime OEM partner that Nissan bought in 2007 (Forkliftaction.com News #326).