Nissan Motor Co. has agreed to acquire Swedish lift truck manufacturer Atlet. Nissan says it intends to operate its Nissan and Atlet lift truck brands and sales networks separately.

According to Nissan, the acquisition will allow both companies to benefit from the exchange of technology and manufacturing know-how and from joint purchasing opportunities. Combined, the companies produce more than 36,500 units worldwide per year.

Nissan placed ninth in Modern’s recent ranking of the world’s top lift truck suppliers, reporting $820 million in industrial truck revenue from its Nissan and Barret brands. Atlet ranked No. 15 with revenue of $247 million.