Kalmar Industries has made an agreement to acquire CVS Ferrari Group. This acquisition will strengthen Kalmar's market position and service capabilities in the South European and other Mediterranean markets and complement Kalmar's product offering with new, innovative container handling equipment. The agreement signed is subject to competition authority approval.
CVS Ferrari has a strong market position in new equipment in its home country Italy as well as in Southern Europe and Africa. CVS Ferrari has 100 service people in Italy and an extensive installed base and dealer network throughout the Mediterranean.
"We are pleased with this agreement, which strengthens Kalmar's presence both in new equipment and services in Mediterranean markets. We believe that the synergies with our existing operations will further strengthen CVS Ferrari's competitiveness," states Kalmar President Christer Granskog.
"Our family has successfully developed CVS Ferrari to its current size and position in nearly 40 years. We believe that Kalmar will be a good home and a strong owner for CVS Ferrari in order to meet future global challenges. We see a good fit between the two companies, and we have found in Kalmar an ownercommitted to develop CVS Ferrari's operations," comments CVS Ferrari Group President Giuseppe Ferrari.
CVS Ferrari was founded in 1973 and is owned by the Ferrari family. Its net sales for 2006 are estimated to amount to EUR 85 million with an operating margin level slightly below Kalmar's level. CVS Ferrari employs some 305 people and its production facilities are located in Cadeo, Italy. The acquisition is expected to contribute to synergies in areas like production, sourcing and product development in order to offer customers more competitive products. CVS Ferrari will operate as a separate entity and brand within Kalmar continuing to sell its products through its existing distribution network.
CVS Ferrari has a strong market position in new equipment in its home country Italy as well as in Southern Europe and Africa. CVS Ferrari has 100 service people in Italy and an extensive installed base and dealer network throughout the Mediterranean.
"We are pleased with this agreement, which strengthens Kalmar's presence both in new equipment and services in Mediterranean markets. We believe that the synergies with our existing operations will further strengthen CVS Ferrari's competitiveness," states Kalmar President Christer Granskog.
"Our family has successfully developed CVS Ferrari to its current size and position in nearly 40 years. We believe that Kalmar will be a good home and a strong owner for CVS Ferrari in order to meet future global challenges. We see a good fit between the two companies, and we have found in Kalmar an ownercommitted to develop CVS Ferrari's operations," comments CVS Ferrari Group President Giuseppe Ferrari.
CVS Ferrari was founded in 1973 and is owned by the Ferrari family. Its net sales for 2006 are estimated to amount to EUR 85 million with an operating margin level slightly below Kalmar's level. CVS Ferrari employs some 305 people and its production facilities are located in Cadeo, Italy. The acquisition is expected to contribute to synergies in areas like production, sourcing and product development in order to offer customers more competitive products. CVS Ferrari will operate as a separate entity and brand within Kalmar continuing to sell its products through its existing distribution network.
Note to editors:
Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. It is the world leading supplier of cargo handling equipment to ports, terminals and intermodal facilities. Every fourth container or trailer transfer at terminals around the world is handled by a Kalmar machine. The company also supplies a wide range of machines to demanding industrial customers for applications as diverse as handling steel and paper to shunting road trailers at distribution hubs.
Kalmar is also leading the way in port automation with its application of unmanned container handling technology, on-board smart features and remote maintenance products, developed in co-operation with customers and partners.
Kalmar product range is complemented by a large range of value added services such as maintenance contracts and fleet management.
Production plants are situated in Sweden, Finland, the Netherlands, Malaysia, China and the USA.
Kalmar net sales were EUR 1,147 million in 2005.
Kalmar is part of Cargotec Corporation, the world leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. In 2005 Cargotec net sales exceeded EUR 2.3 billion. Cargotec class B shares are listed on the Helsinki Stock Exchange.
Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. It is the world leading supplier of cargo handling equipment to ports, terminals and intermodal facilities. Every fourth container or trailer transfer at terminals around the world is handled by a Kalmar machine. The company also supplies a wide range of machines to demanding industrial customers for applications as diverse as handling steel and paper to shunting road trailers at distribution hubs.
Kalmar is also leading the way in port automation with its application of unmanned container handling technology, on-board smart features and remote maintenance products, developed in co-operation with customers and partners.
Kalmar product range is complemented by a large range of value added services such as maintenance contracts and fleet management.
Production plants are situated in Sweden, Finland, the Netherlands, Malaysia, China and the USA.
Kalmar net sales were EUR 1,147 million in 2005.
Kalmar is part of Cargotec Corporation, the world leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. In 2005 Cargotec net sales exceeded EUR 2.3 billion. Cargotec class B shares are listed on the Helsinki Stock Exchange.