Nissan Motor Co. Ltd. (Tokyo) announced that, pending approval by the EU Commission, its subsidiary, Nissan Forklift Europe B.V., will acquire a 100 percent stake in Atlet AB (Mölnlycke, Sweden).
Founded 49 years ago by Knut Jacobsson, Atlet AB is a warehouse material handling equipment manufacturer.
Combined, the companies produce more than 36,500 units worldwide a year with an annual turnover of 858 million euros. Both brands and sales networks will be operated separately, according to Nissan.
Nissan said the acquisition will allow for the exchange of technology and manufacturing knowledge and provide joint purchasing opportunities.
In 2002, Nissan and Atlet entered into an original-equipment agreement in which Atlet manufactured warehouse equipment for Nissan Forklift’s European markets.
"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 lineup," said Toshio Aoki, corporate vice president of Nissan, in charge of the company’s industrial machinery division.
Nissan expects the acquisition to be completed by the end of this year. At that time, the company will appoint a new CEO of Atlet. Marianne Brismar, the current CEO, will remain as a “special advisor” to Atlet.