Local News Story
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Acquisitions

Thursday, 21 December 2006 ( #291 )
Kalmar parent buys Spanish distributor STOCKHOLM, Sweden Kalmar has signed an agreement to acquire the majority shareholding of its Spanish distributor Kalmar Espana SA. Kalmar Espana has been a Kalmar agent since 1991. According to a Kalmar statement, the distributor has a strong customer base in the heavy industrial handling and port industries. It employs six people and had net sales of about EUR11.3 million (USD14.8 million) in 2005. The acquisition value was not disclosed. Kalmar announced in September it was buying its Belgian distributor, Catracom (Forkliftaction.com News #278). European Commission approves Kion buy WIESBADEN, Germany The European Commission has cleared the acquisition of the Kion Group by Goldman Sachs Group Inc and Kohlberg Kravis Roberts & Co (KKR). According to Dow Jones International News, the commission said the deal would not create antitrust problems because few Goldman Sachs and KKR-owned companies used Kion's equipment. The private equity companies are paying EUR4 billion (USD5.27 billion) for Kion. Bourgas buys 70 per cent of Balkancar company SOFIA, Bulgaria Bulgarian company Bourgas Shipyards Co Ltd has bought a 70 per cent stake in forklift manufacturer Balkancar Dunav for LEV4 million (USD2.69 million), the Bulgarian News Digest reported. Bourgas will pay the forklift producer's debts within six months of the acquisition, as part of the deal. Balkancar Dunav's debt stood at LEV2.2 million (USD1.48 million) as of September 30, 2006. Balkancar Dunav, based in the port city of Lom, exports 95 per cent of its products to Europe (Forkliftaction.com News #281). Cascade acquires more attachments Oregon, US Forklift attachment manufacturer Cascade Corporation, based in Fairview, Oregon, last week announced it has acquired PSM Corporation, a manufacturer of construction attachments based in Woodinville, Washington. Cascade president and CEO Robert Warren said the acquisition would "allow us to better serve existing PSM customers, significantly expand our geographic scope in the Americas, and begin producing construction attachments and tools in China for the Chinese domestic markets," he said. Cascade CFO Andy Anderson said the acquisition was "expected to add between USD20 million and USD30 million in revenue in 2007." He said the purchase price "was approximately USD40 million before working capital adjustments."
McConnellsburg, PA, United States JLG recently welcomed Rob Messina back to the company in his new role as senior vice president of product development and product management. Forkliftaction News...
Kinston, NC, United States Crown Equipment is adding more than 130 jobs to its Kinston, North Carolina operations. According to local reports, the new jobs will include assemblers, engineers...

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China In contrast to last year's crippling closures, manufacturers in China are back at work after the New Year holiday closures. China.org reports that manufacturing is...
Salt Lake City, UT, United States A 22-year-old construction worker has been killed in an industrial accident in downtown Salt Lake City. According to local police, a man had been operating...
Brussels, Belgium The European Rental Association (ERA) has updated its 2020 Market Report, with new year-on-year estimates for rental activity, construction and GDP in each of the...
Kinston, NC, United States Crown Equipment is adding more than 130 jobs to its Kinston, North Carolina operations. According to local reports, the new jobs will include assemblers, engineers...

Upcoming Events

June 10, 2021 - Istanbul, Turkey
September 13 - 17, 2021 - Virtual Event, United Kingdom
3-6 May 2022 - Fieramilano - RHO, Italy