Potential acquisition

Skyjack has claimed that it is to acquire Volvo CE's materials handling equipment business. The deal involves Volvo's US-style high-boom telescopic handlers, and vertical mast rough terrain forklifts - two product lines it acquired from Ingersoll-Rand last year with the purchase in April of its Road Machinery business.

Skyjack parent company Linamar said in a statement, " The Volvo Material Handling Equipment business complements the acquisition of Car3elift Equipment completed in August of 2007. The acquisition would further expand Skyjack's telehandler product offering, add a rough terrain straight mast forklift product and provide additional manufacturing capacity to further the company's growth potential."

The transaction is subject to Volvo and Skyjack reaching a definitive agreement as well as due diligence.

A spokesman for Volvo was not available to comment at the time of going to press.