Global lifting equipment provider, Konecranes, has signed a long term agreement with German forklift truck manufacturer, Linde Material Handling, to acquire certain assets of the business and increase the global competitiveness of their container handling truck activities.

Konecranes has purchased certain assets of the container handling lift truck business, including respective product rights, for an undisclosed sum. The transaction is expected to close during the second quarter of 2013. In the meantime, both companies will continue to offer a full range of container handling lift trucks worldwide until all manufacturing will take place at Konecranes’ factories. In addition, Konecranes will also receive access to Linde’s distribution network.

Konecranes says that the long term agreement will improve economies of scale in R&D and manufacturing while enabling both companies to continue to offer container handling trucks to their distribution channels.

Lars Fredin, vice president and head of business unit lift trucks, Konecranes, told Port Strategy: "We want to increase and strengthen our container handling business and this collaboration gives us a good opportunity to boost the business. We don’t disclose unit sales or market share information, but our estimate based on current information is that Konecranes will become number two in the container handling business worldwide. It will significantly improve our container handling offerings to our customers and will open a wider distribution network."

Detlef Sieverdingbeck, head of communications, Linde, added: "This agreement will significantly improve our worldwide container handling offerings to the customers of the Linde brand and will enable us to put a stop to the constant loss which our UK container handling business has been experiencing for the past five years or so. After this two year period, Linde will sell Linde container handling trucks manufactured and supplied by Konecranes, as well as Konecranes container lift trucks."