Kalmar acquires CVS Ferrari Group

“Our family has successfully developed CVS Ferrari to its current size and position in nearly 40 years. We believe that Kalmar will be a good home and a strong owner… We see a good fit between the two companies, and we have found in Kalmar an owner committed to develop CVS Ferrari’s operations,” said CVS Ferrari’s group president, Guiseppe Ferrari.

Founded in 1973 and owned by the Ferrari family, CVS Ferrari has a strong market position in new equipment in Italy as well as in southern Europe and in Africa. It employs 305 people, including 100 service personnel, and has an extensive installed base and dealer network throughout the Mediterranean, along with a production base at Cadeo, Italy.

The company’s net sales for 2006 are estimated at €85m. CVS Ferrari will operate as a separate entity and brand within Kalmar, and will continue to sell its products through an existing distribution network.