Kalmar acquires an American service company

Kalmar Industries has made an agreement to acquire the assets and business of US-based Port Equipment Service, Inc (PES) in Portsmouth, Virginia. This acquisition will expand Kalmar's service business, strengthen its position in US ports, and create new relations and opportunities with intermodal terminals.

The parties have agreed not to disclose the transaction value. PES reported net sales of more than EUR 4 million in 2006.

Established in 2001, PES employs 56 people - most of whom are service technicians - working to erect, maintain and repair Kalmar and all other brands of container and heavy materials handling equipment. PES' expertise includes servicing the equipment of railway terminals in five states and of port operators in Portsmouth and Norfolk, Virginia.

"This acquisition complements Kalmar's strategy to grow its service business. PES' familiarity with Kalmar products, its solid relationship with railroad and port customers, and its service expertise makes the transaction an excellent strategic fit," says Kalmar CEO and President Christer Granskog.

The founders of PES, Dan Stevens and Tom McDonough, will continue to run the existing intermodal and port service business. The entire PES operation will be managed by the Port Division of Kalmar Industries USA, LLC.

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Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. It is the world's 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 applications 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's 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's net sales were EUR 1.2 billion in 2006.

Kalmar is part of Cargotec Corporation, the world's leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centres, and ships. In 2006 Cargotec's net sales were EUR 2.6 billion. Cargotec's class B shares are listed on the Helsinki Stock Exchange.