Kalmar to buy majority stake in Spanish distributor
Sweden's Kalmar Industries, providers of heavy-duty materials handling equipment to ports, has agreed to buy a majority share of its Spanish distributor, Kalmar Espana SA., for an undisclosed amount.
Kalmar Espana has been an agent for the Swedish company since 1991 and employs six people with net sales in 2005 of about 11.3 million euros ($14.8 million). Antonio deSebastian, chairman of Kalmar Espana will be the sales company's new working chairman.
'Spain and the Mediterranean area are very important regions for Kalmar's growth and this acquisition supports our strategy of being close to our customers’ operating environments,' said Christer Granskog, Kalmar Industries' chief executive officer and president.
The transaction between Kalmar Industries' Finnish parent company Cargotec Corp. and Kalmar Espana is subject to regulatory approval.
Kalmar to buy majority stake in Spanish distributor
