US parts giant Systems Material Handling Co (SMH) has made two strategic acquisitions.
SMH, which was taken over by Belgian parts giant TVH Forklift Parts last year, acquired Paragon Parts LLC, of Louisville, KY, and Kiser Products Inc, of Haven, KS, last month. Financial details of the acquisitions were not revealed.
SMH said it would acquire all assets of Paragon and merge the company into its US and Canadian operations. Paragon's Louisville, KY, facility would be closed.
SMH domestic sales manager Cathy Diaz said: "Part of the reason customers called Paragon was that they needed parts SMH did not offer. SMH plans to continue sourcing hard-to-find parts for Paragon customers using the same methods and sources that proved successful for Paragon."
The Kiser acquisition means SMH will immediately begin offering Kiser's popular Mag-Klip, Mag-Mirr and Mag-Kaddy lines through its TotalSource catalogue and Information Resource Management Network online system.
The acquisition followed "a financial setback" which crippled Kiser's production and sales last year.
Ms. Diaz said the Kiser line would be made available worldwide through TVH and TVH Australasia catalogues and ordering systems this year.
© Forkliftaction.com - Newsletter #141 - January 22, 2004