Konekesko is selling its warehouse technology business to BT
Konekesko Ltd, a Kesko Agro Ltd´s subsidiary, today made an agreement to sell its warehouse technology business in Finland to the Swedish company BT Industries AB. BT Industries will establish a subsidiary in Finland, in which Konekesko will hold a minority interest. The name of the new company will be BT Varastotekniikka Oy.
The warehouse technology business includes Konekesko's forklift and warehouse racking sales and their after-sales service operations. In connection with the transaction, all personnel of Konekesko's warehouse technology product line (about 70 persons) will be transferred to the new company under their previous conditions.
In the same context, Kesko Agro Ltd has signed a letter of intent with BT Industries AB to sell its warehouse technology businesses in the Baltics to BT's Baltic subsidiaries, i.e. BT Eesti AS, BT Latvija SIA and BT Lietuva UAB. The business arrangements in the Baltic countries will involve some 15 persons.
The transaction will be completed on January 1st 2006, provided that the competition authorities of each country approve it. The BT subsidiary to be established in Finland will operate in the existing Konekesko premises in Vantaa.
Konekesko Ltd. is a product sales and service company specializing in the import, marketing and ancillary services of heavy duty and recreational machinery. In 2004, its net sales totalled EUR 173.2 million and it employed some 290 persons. The main products offered in Konekesko's warehouse technology product line include BT warehouse trucks, Hyster C/B forklifts and Mecalux warehouse racking.
The BT Industries group is the world leading supplier of warehouse trucks and related services. The company has approximately 8.500 employees and an annual turnover of approximately EUR 1.5 b. BT Industries has seven production plants located in four countries and a sales network that covers the entire world. BT Industries is part of the Toyota group.
Further information:
President Pekka Lahti, Konekesko Ltd, tel. +358 1053 20800
Sales Director Jorma Mattinen, Konekesko Ltd, tel. +358 1053 20224
President Christer Högberg, BT Europe AB, tel. +46 142 86287
