Nissan Motor Co., Ltd. announced today the completion of its acquisition of ATLET AB on 16th through its subsidiary, Nissan Forklift Europe B.V., following approval from the European Commission.
Mr. Toshio Aoki, General Manager of Industrial Machinery Division at Nissan Motor, is appointed as new chairman of the board at ATLET while Mr. Keiji Ikeda of Nissan Motor is appointed as new CEO at ATLET. Both will be based at the ATLET headquarters in Mölnlycke, Sweden.
Nissan Forklift's key markets include Europe, USA, Japan and other global markets. Nissan Forklift's main products are engine and battery powered counterbalanced forklifts. Atlet has a strong presence in Europe, its main market, and is also experiencing growth in emerging markets.
The agreement will allow both companies to benefit from the exchange of technology and manufacturing know-how. In addition, joint purchasing opportunities are expected to improve cost competitiveness.
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 in the market. -Nissan
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