Samuk HC, a joint venture with Chinese forklift manufacturer Hangcha, has made some predictions on the outcome of the global recession in its latest internal newsletter.

Under the heading "Who will survive", the newsletter says that world number one Toyota "with assembly plants in key markets" is likely to remain on top. It notes that the Japanese forklifts were considered "rubbish" 50 years ago.

US-owned Hyster and Yale forklifts "should survive with minor amalgamation", while European leaders Jungheinrich and Linde are survivors because of their respective key strengths.

"Jungheinrich is said to be unloading big trucks by 1 January 2010. Very strong in warehouse growth market," the newsletter says.

It continues: "Linde is a leader in high-cost transmission, and dominates Germany and surrounding Europe and the UK but where else?"

The newsletter observes that Linde now has a joint venture with Chinese manufacturer Baoli for lower-cost European torque converters, "which was despised by Linde up to this year".

Samuk predicts that Chinese manufacturer Heli could be in the top five by 2013, while Dalian, known for its "dated big trucks", would need to regroup.