 Bolzoni forks |
Bolzoni SpA expects to have access to about 60 per cent more of the global attachment market with its entry into the forks market, the company chairman said.
Emilio Bolzoni said in a statement that the Italian attachment manufacturer had started producing forks for the forklift segment and would have access to an overall attachment market worldwide of about EUR650 million (USD864.8 million).
A market survey by Bolzoni consultant Bain & Co, combined with Bolzoni's market intelligence, estimated the worldwide forks market at EUR240 million (USD319.3 million) to EUR250 million (USD332.6 million) and the European market at EUR50 million (USD66.5 million).
Carlo Fallarini, Bolzoni's marketing & sales director, said fork production started in February at a 2,700 square metre plant that is part of its 20,000 square metre production facility at Podenzano. Bolzoni manufactures its whole range of forklift attachments, except paper roll clamps, at Podenzano. Paper roll clamps are made at its Finland plant. Fallarini said EUR7.5 million (USD9.98 million) was invested into the forks manufacturing facility.
There is a patent pending for the forks, "specifically for the forge and heath treatment of the forks", Fallarini said.
A Bolzoni statement said fork production would give the manufacturer the opportunity to penetrate segments other than forklifts that used forks.
Fallarini would not comment on what other segments the company was considering.
 The fork manufacturing facility at Podenzano. |
Bolzoni projects a turnover of EUR3 million (USD3.99 million) in 2007 for forklift forks, increasing to EUR15 million (USD19.96 million) by the end of 2010, when it aims to have a 30 per cent share of the European forks market.
Emilio Bolzoni said the company's entry in the fork segment was a "true turning point" in Bolzoni's history.
"Our three-year plan foresees exploitation of synergies resulting from the Meyer acquisition, which we count on raising to the same levels of profitability as Bolzoni in 2009" (
Forkliftaction.com News #281).
Fallarini said the synergies generated by Meyer's integration into the group would be worth EUR1 million (USD1.33 million) in 2008 and EUR2 million (USD2.66 million) to EUR2.8 million (USD3.73 million) in 2009.
"The Meyer sales organisation will be distributing the forks in our markets," he said.
Bolzoni's forecasted consolidated turnover for 2007 is EUR145.4 million (USD193.5 million), 11.3 per cent higher than 2006, EUR157.8 million (USD210.0 million) in 2008, 8.6 per cent higher than 2007 and EUR172 million (USD228.9 million) in 2009, nine per cent more than 2008.