Skyjack says Volvo Construction Equipment has accepted its offer to buy its materials handling equipment business. Volvo however says “no comment”, although it admits it is looking at divesting “non core” businesses.

The deal - if it exists- involves Volvo’s US-style high-boom telescopic handlers, and vertical mast rough terrain forklifts - two product lines it acquired from Ingersoll-Rand last year with the purchase in April of its Road Machinery business.

Skyjack parent company Linamar said in a statement “The Volvo Material Handling Equipment business complements the acquisition of Carelift Equipment completed in August of 2007. The acquisition would further expand Skyjack’s telehandler product offering, add a rough terrain straight mast forklift product and provide additional manufacturing capacity to further the company’s growth potential.”

Skyjack says it is likely to move the Volvo business to its existing telehandler business in Ontario, Canada.

Skyjack says the transaction is subject to the two parties reaching a definitive agreement as well as due diligence.

From: KHL Group [mailto:wcw@khldev.com]
Sent: Wednesday, March 19, 2008 12:10 PM
To: Maxim Gots
Subject: KHL’s World Construction Week: Equipment sales hit record high



http://constructionequipmentmachinery.com/ConstructionEquipment/