Nissan to acquire forklift maker Atlet of Sweden

10 September 2007

Nissan Forklift Europe BV, a subsidiary of Japan''s Nissan Motor Company Ltd., has signed an agreement with the shareholders of Atlet AB of Sweden to acquire the entire equity of the Swedish warehouse equipment manufacturer.

Nissan Forklift''s main products are engine- and battery-powered counterbalanced forklifts. Its main markets include Europe, the US and Japan. Atlet has a strong presence in Europe, its main market, and is expanding into emerging markets.

But benefits of the deal are expected in more than the marketing arena. The two companies should gain from an exchange of technology and manufacturing know-how, and joint purchasing opportunities will be exploited to improve cost competitiveness.

The two companies together make more than 36,500 units worldwide a year (including 30,000 at Nissan), and their aggregate annual turnover is €858 million (including €676 million at Nissan). Both brands and sales networks will be operated separately in the market.

"Atlet is the ideal partner for us to reinforce our position as a major player in the global material handling market thanks to their high quality products, which complement our existing product line-up," said Toshio Aoki, corporate vice president of Nissan Motor and head of its industrial machinery division, which controls the forklift unit''s operations.

Marianne Brismar, Atlet''s CEO, believes that "Nissan Forklift is a natural fit for us. Not only will we have the opportunity to strengthen our product range under our existing brand name, but we will also be able to expand into new markets."