Hiab, part of Cargotec, and New Zealand Trucks, a subsidiary of Hellaby Equipment Limited, have signed a Distribution Agreement and Asset Sale Agreement for the distribution partnership in New Zealand. The parties have agreed not to disclose the value of the transaction which occurs on 1 July 2014.
The transaction supports the implementation of Hiab's business strategy targets to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.
Carl Gustaf Göransson, Senior Vice President, Sales and Markets at Hiab, says: "By developing a long-term relationship with a recognised and committed partner Hiab is able to grow its presence and services capability in a key market and will reach Hiab customers in a professional and productive way. Partnering with New Zealand Trucks and Hellaby is part of Hiab's overall route-to-market strategy where a strong network of independent partners in key markets is one of the corner stones in growing our business successfully."
Hellaby Equipment's businesses include New Zealand Trucks and AB Equipment. It is a leading full-service distribution company, specialising in materials handling, forestry and construction new and used equipment sales as well as heavy equipment and truck servicing and forklift rentals. Hellaby's extensive sales and service network of 20 technical service centres across New Zealand will provide an excellent platform to expand Hiab's customer base.
Hiab employs approximately seven people in its current distribution operations in New Zealand. Based on the preliminary plan, all employees will transfer to New Zealand Trucks.
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