A Kalmar reach stacker.

Cargotec, of Helsinki, Finland, parent company of Kalmar Industries, has signed an agreement to buy one of its biggest distributors in Europe.

Catracom, in the Port of Antwerp, has been distributing Kalmar equipment since 1985. Since then it has sold 170 Kalmar reach stackers and 1,000 Kalmar heavy forklifts to Belgian ports and industry. Catracom has also delivered more than 200 Terex PPM reach stackers and distributed Terberg tractors since 1994. The company's engineering department manufactures dedicated port equipment, like fork carriages, masts for heavy duty operations and crane spreaders.

Both parties agreed not to disclose the price.

Catracom employed about 100 people and had net sales of about EUR70 million (USD88.9 million) in 2005. Catracom owner and managing director Ludwig Callens would remain with the business, a Kalmar statement said.

Kalmar president Christer Granskog said Catracom had been a strong partner for Kalmar for many years.

"This acquisition supports our strategy of being close to customers at major ports and container terminals around the world. It significantly strengthens our existing service offering and network in the Port of Antwerp."

The agreement is subject to competition authority approval.