Cargotec is acquiring Danish sales and service company Arne Holst & Co A/S.

Both parties are keeping the acquisition price confidential. The acquisition includes the business assets and customer contacts of Arne Holst of Kvistgaard, north of Copenhagen.

"Arne Holst & Co has been a valued agent and service provider for Kalmar products and parts and for MacGregor equipment for over 20 years," says Ismo Vaihtamo, Cargotec's director of container business for North Europe.

Vaihtamo adds that the acquisition will boost Cargotec's presence as a distributor of equipment and parts, and as a service provider, in Denmark. The assets of Arne Holst & Co will be integrated into Cargotec's subsidiary Kalmar Danmark A/S.

Cargotec has recently merged Kalmar and Hiab into one business area to increase operational efficiency and boost its customer service (Forkliftaction.com News #424). This is in line with its "On the Move" change program launched in February 2008.

Cargotec expects the merger to save EUR15 million (USD21.3 million) for the EMEA region alone by the end of 2009 and a further EUR5 million (USD7.1 million) by 2010.

Pekka Vauramo will head the merged business area while Pekka Vartiainen continues to lead Hiab until the end of this year.