Skyjack Inc., a Linamar Company (LNR:TSX) today announced it has finalized its purchase agreement and acquired Volvo’s Material handling equipment business based in Shippensburg, PA.

Early in March, Linamar announced it had an interest in acquiring Volvo’s material handling equipment business by entering into discussions relating to the purchase of selected assets of Volvo’s Material Handling Equipment (MHE) Business purchase agreement.

Skyjack is interested in the Volvo Material Handling Equipment business as it complements the acquisition of Carelift Equipment completed in August of 2007. This acquisition would further expand Skyjack’s Telehandler product offering, add a Rough Terrain Straight Mast Fork Lift product and provide additional manufacturing capacity to further the company’s growth potential.

“We are very pleased to see this important deal come to completion,” said Linda Hasenfratz, CEO of Linamar Corporation.  “The product diversification brought to us by this acquisition is a critical element in our strategy to continue to grow our Skyjack division despite tough economic times.”

Skyjack will be moving the assets from their current location in Shippensburg to a yet to be determined site.


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