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Press release

Cargotec Acquires Tail Lift Producer AMA

1/26/2006

Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement to acquire Dutch tail lift producer AMA. The acquisition is subject to completion of a due diligence process.
 
AMA consists of a manufacturing company AMA Polska Sp.z.o.o based in Poland and a sales company Stama B.V. in Holland. The company is currently investing in a new tail lift production facility in Oborniki near Poznan, Poland. AMA employs approximately 55 people and had net sales of approximately EUR 4 million in 2005. 
 
"The acquisition of AMA will make us the market leader in tail lifts in Poland and further strengthens our market position in the Netherlands. The new Polish production facility will enable us to better serve our customers and gives a good basis to further expand our presence in Eastern Europe", states Lennart Bohman, Managing Director of Hiab's Tail Lifts.
 
Hiab is the leading tail lift manufacturer in the world with a strong market position and product offering. Hiab's tail lifts are sold under the ZEPRO, FOCOLIFT and WALTCO brands. Products include standard lifts, half lifts, folding lifts, raillifts and sliders made of both steel and aluminum, with lifting capacities ranging from 450 to 2,500 kg.