Oshkosh Truck Corp has agreed to acquire 100% of the stock of Geesink Norba, a European manufacturer of refuse collection vehicles. Oshkosh will pay about $127.5 million in cash for the company. This move strengthens Oshkosh's position in the solid-waste industry. The specialized truck manufacturer already owns the McNeilus Companies, a United States-based manufacturer of refuse packers.
Geesink Norba products will continue to be offered through its wholly owned distribution system while providing the opportunity to sell and service select Oshkosh and McNeilus products in Europe. In addition, Oshkosh's existing distribution network offers opportunities to introduce the Geesink Norba line to North America.