Oshkosh Agrees to Buy European Refuse Equipment Manufacturer
Jul 10, 2001 12:00 PM
Oshkosh Truck Corporation has agreed to acquire 100% of the stock of Geesink Norba, a European manufacturer of refuse collection vehicles. Oshkosh will pay approximately $127.5 million in cash for the company. The move strengthens the Oshkosh position in the solid waste industry. The specialized truck manufacturer already owns the McNeilus Companies, a U S manufacturer of refuse packers. Geesink Norba products will continue to be offered through their wholly owned distribution system while providing the opportunity to sell and service select Oshkosh and McNeilus products for the European market. In addition, Oshkosh’s existing distribution network offers opportunities to introduce the Geesink Norba line to North America. The European market rivals the U S refuse collection equipment market in size, Oshkosh says. Limited landfill space in Europe is increasing the popularity of equipment capable of hauling refuse greater distances. That trend, combined with higher per captia waste volumes and the growth of the Eastern European economies lead Oshkosh to expect consistent, long-term growth in the European refuse collection equipment market.
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