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Mitsubishi bid for Rocla

Thursday, 30 Oct 2008 ( #384 ) - Tokyo, Japan
News Story
A Rocla forklift
Mitsubishi Heavy Industries (MHI) subsidiary Mitsubishi Caterpillar Forklift Europe (MCFE) has announced plans to take a controlling interest in Rocla. MCFE already owns 28.1% of the Finnish company.

MCFE and MHI have been major shareholders in Rocla since 2002 and have product sourcing agreements with the company for America and Europe (  News #041).

Shigeru Tanemura, president of Mitsubishi Forklift Trucks, says the ownership of Rocla will strengthen MCFE’s ability to design and manufacture warehouse products.

MHI aims to further expand its materials handling equipment portfolio and aggressively develop solution-oriented products and services for the European market through its purchase of Rocla.  

Rocla’s board of directors has unanimously recommend shareholders accept the offer of EUR13 (USD16.84) per share.

Tapio Rummukainen, CEO of Rocla, says as the European market sees steady high growth rates in the warehouse equipment industry, the acquisition of Rocla’s warehouse equipment solutions will enhance the existing forklift business. "It will enable MHI and the MCFE companies to develop and expand their business in accordance with their European and overall growth strategy."

Rummukainen anticipates the combination of Mitsubishi Caterpillar Forklift Europe BV and Rocla will provide substantial growth opportunities for the company. "It (the purchase) will generate significant potential to improve operational excellence through sharing best practices, especially in areas such as purchasing, sourcing and manufacturing, technology, product development and R&D."

The acquisition will see Rocla positioned as the core of MHI’s global forklift business in the warehouse equipment industry in Europe. Rummukainen says retaining Rocla’s existing management team, employees, brand, service network and manufacturing facilities will be the key to best using Rocla’s strengths.
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