GUELPH, Ontario—Skyjack Inc., a Linamar company, announced that Volvo Construction Equipment has accepted Skyjack’s offer to purchase selected assets of Volvo’s material handling equipment business.
Volvo acquired the business from Ingersoll-Rand in April 2007.
Skyjack says the acquisition will complement its August 2007 acquisition of Carelift Equipment and expand its telehandler offerings. A rough-terrain, straight-mast lift truck product, as well as additional manufacturing capacity, will be added as a result of the acquisition, Skyjack said.
“The addition of Volvo’s Material Handling Equipment business would provide products to complement our premium Zoom Boom telehandler brand,” said Linda Hasenfratz, chief executive officer of Linamar Corp. “This will allow us to bring our products to a broader group of customers.”
Skyjack anticipates moving the Volvo assets to Ontario to join its existing telehandler business.
The proposed transaction is subject to the parties reaching a definitive agreement.