Konekesko Ltd, a Kesko Agro Ltd subsidiary has agreed to sell its warehouse technology business in Finland to the Swedish company BT Industries AB.
BT Industries will establish a new subsidiary in Finland, in which Konekesko will hold a minority interest. The name of the company will be BT Varastotekniikka Oy and it will operate in the existing Konekesko premises in Vantaa.
The warehouse technology business includes Konekesko's forklift and warehouse racking sales and after-sales operations. All Konekesko warehouse technology product line employees will be transferred to the new company under their previous conditions.
Kesko Agro Ltd has also signed a letter of intent with BT Industries AB to sell its warehouse technology businesses in the Baltics to BT's Baltic subsidiaries, that is, BT Eesti AS, BT Latvija SIA and BT Lietuva UAB.
The business arrangements in the Baltic countries will involve around 15 persons, said a Konekesko statement.
Konekesko Ltd is a product sales and service company specialising in the import, marketing and ancillary services of heavy duty and recreational machinery. In 2004, its net sales totalled EUR173.2 million (USD202.2 million) and it employed around 290 persons.
The main products offered in Konekesko's warehouse technology product line include BT warehouse trucks, Hyster counterbalanced forklifts and Mecalux warehouse racking.