Konecranes to buy assets of Linde

Konecranes has agreed to buy certain assets of the container handling lift truck business of Linde Material Handling.  Linde is wholly owned by the KION Group, a global manufacturer of industrial lift trucks, while Konecranes, is part of Lifting Businesses.

The two groups have also signed a long-term supply agreement and will said they will collaborate to further increase the global competitiveness of their respective container handling truck activities. The value of the assets purchased is not disclosed. The transaction is expected to close during the 2nd quarter of 2013.

Both companies will keep reach stackers, empty container handlers and laden container handlers in their offering but after a period of time all manufacturing will take place in Konecranes facilities.  Konecranes Lift Trucks has two productions facilities building heavy forklift trucks, empty and laden container handlers and reach stackers; one in Markaryd, Sweden and one in Shanghai, China.

The assets acquired by Konecranes from Linde Material Handling include the respective product rights. In addition, Konecranes will get access to Linde Material Handling’s distribution network. The collaboration improves economies of scale in R&D and manufacturing while enabling both companies to continue to offer container handling trucks to their distribution channels, the announcement said. (Source: Diesel Progress)