Göran Sjöberg

German company Still GmbH has taken over 100 per cent of Swedish company Stocka Industries AB, one of the world's oldest niche materials handling equipment makers.

The company will become a Swedish subsidiary of Still and will be based in Stockamöllan, north of Malmö in southern Sweden.

Stocka has been a Still dealer since 1997, and Still bought a 25 per cent minority stake in the company in 2001. Stocka manufactures Scancab cabins for Still's electric R 60 forklift.

Stocka last year reported turnover of about EUR12.3 million (USD15.7 million), of which Still products account for 35 per cent.

General manager Göran Sjöberg will lead the new subsidiary company, and a Still statement said the Stocka acquisition was "a strategic step with excellent business opportunities". Stocka's clients include such companies as Volvo Truck, Saab Automobile, Tetra Pak and IKEA.

Stocka Industries was founded in 1906. By 1918, manufacturing of the first hand pallet trucks began and in 1950 the program was extended to forklift trucks.