Kalmar, part of Cargotec, has agreed to purchase the product rights to the electric terminal tractor product line from Lonestar Specialty Vehicles (LSV) in the US.
LSV will transfer immaterial assets for Kalmar and function as Kalmar’s contract manufacturing partner for the acquired electric terminal tractor product range as part of the agreement.
The acquisition is scheduled to close on 1 September 2023.
Lonestar Specialty Vehicles, based in Texarkana, Texas, specialises in the design and production of complete electric vehicle solutions for the commercial vehicle industry.
The business delivered the first electric tractor in November 2019 and remains the market leader in electric terminal tractors in the US, according to Kalmar.
Hermanni Lyyski, Vice President, Terminal Tractors, Kalmar, said: “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.
“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.“
Under the brand name Kalmar TX, the new electric terminal tractor product line will be introduced to the Kalmar terminal tractor range.
The new product range will be offered in the Americas region, and the deal will have no effect on Kalmar’s sales in 2023.