03.11.2008

Kalmar strengthens its hand in Italy

Cargotec, owner of Hiab loader cranes and Kalmar reach-stackers has acquired 80 percent of two CVS service companies in Italy, CVS Technoports and CVS Service. The remaining 20 percent holdings in each of the two companies will remain with the CVS Ferrari Group.

The combined revenues of the two companies in 2007 was around €8 million and the two companies currently employ 65 people.

Once the transaction is complete the two companies will operate under the name Officine Cargotec Ferrari. The companies will focus on developing their services to container and material handling customers in Italy.

The intention of the acquisition is to enable the companies to offer a wide range of services related to both CVS and Kalmar container handling equipment, as well as that of other suppliers.

Vertikal Comment

In 2007 Cargotec failed in its bid to bid to acquire the whole of CVS Ferrari after the German Kartelamt (competition authority) declared it as being anticompetitive.
See Cargotec acquisition stopped
Since then the Italian container handling industry has had a further shake up with Fantuzzi getting into difficulties and subsequently being acquired by Terex. Kalmar will be keen to do all it can to develop its market position in Italy and with Italian leaning clients before Terex begins to reconstruct Fantuzzi.

This move to cement a strong position in the after market support area in partnership with CVS Ferrari can only help it in these aspirations.