Thomas to buy forklift maker Tovel

Thomas Equipment announced Oct. 28 it has completed a letter of intent to acquire the assets of Tovel, a manufacturer of vertical-mast and telescopic-boom forklifts. Incorporated in 1970, Tovel’s manufacturing headquarters is located in Concord, Ontario, Canada, near Toronto. Thomas manufactures skid steers and mini skid steers, mini excavators, attachments and mobile screening plants.