Yet another OEM is to be snapped up by the acquisitive Cargotec. Hard on the heels of Kalmar’s latest high profile deal to take over CVS Ferrari, subject to regulatory approvals (see last month’s WorldCargo News, p1), the Finnish holding company has announced that it has made an agreement to acquire another competitor, Indital Construction Machinery Ltd, based in Bangalore.
The acquisition creates a manufacturing presence in India for Cargotec and supports the growing sales activities of all three of Cargotec’s business areas. Cargotec’s operations in India currently consist of Kalmar’s subsidiary, Kalmar India, and Hiab’s representative office, while MacGregor has served Indian customers through an agent....
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