Kalmar, part of Cargotec, has signed an agreement to acquire the product rights of the electric terminal tractor product line from Lonestar Specialty Vehicles (LSV) in the United States.
More specifically, as part of the transaction, LSV will transfer the immaterial assets for Kalmar and act as Kalmar’s contract manufacturing partner for the acquired electric terminal tractor product range.
Additionally, the transaction is planned to be completed on 1 September 2023.
Lonestar Specialty Vehicles, headquartered in Texarkana, Texas, is specialised in the development and manufacturing of turnkey electric vehicle solutions for the commercial vehicle market.
Also, the company deployed the first electric tractor in November 2019, and continues to have a leading position in electric terminal tractors in the US market.
Hermanni Lyyski, vice president, Terminal Tractors, Kalmar, commented, “Kalmar is the industry forerunner in eco-efficient cargo and material handling solutions with a strong track record of delivering industry-firsts in the electric range.”
He added, “The demand for electric terminal tractors is increasing and we want to make sure we have a comprehensive portfolio of electric vehicles available for the market. It is a key strategic objective for us to advance our own and our customers’ decarbonisation journey, and we are excited to widen our existing range of electric solutions with the acquired electric terminal tractor product range.”
The new electric terminal tractor product line will be added into Kalmar terminal tractor portfolio under the brand name Kalmar TX.