24.05.2016 – 18:32

Palfinger Holding AG

EANS-Adhoc: PALFINGER intends to acquire one of the leading suppliers of maritime lifesaving equipment

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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  announcement.
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Mergers - Acquisitions - Takeovers
24.05.2016


Bergheim, 24 May 2016
 
The PALFINGER Group intends to acquire 100 per cent of the shares in Herkules
Harding Holding AS and thus, the globally operating Harding Group. The seller is
the Norwegian private equity fund Herkules. Harding is one of the leading
suppliers of lifesaving equipment and lifecycle services for maritime
installations and ships. Through this acquisition, PALFINGER will add new
products and an international service network to its marine business.
 
This undertaking was adopted by the Supervisory Board and Management Board of
PALFINGER AG today. Subject to the positive outcome of the due diligence audit
and the final negotiations, the signing is scheduled to take place in the coming
weeks. The acquisition of Harding by PALFINGER is contingent on the approval of
the authorities.
 
Harding is headquartered in Seimsfoss, Norway, and, with its comprehensive
service network, maintains operations in 16 countries around the world. With a
staff of approx. 800 employees, the company recorded revenue of around EUR 140
million in 2015.
 
This would be the largest acquisition carried out in the history of the
PALFINGER Group. PALFINGER's marine business would almost double its business
volume and, with more than EUR 300 million, contribute substantially more than
20 per cent to the Group's revenue in the future. The service segment would gain
in importance immensely. With Harding, PALFINGER would come a huge step closer
to its strategic aim of becoming an integrated supplier of marine deck equipment
with global service locations.
 
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About PALFINGER AG
For many years PALFINGER has been one of the world's leading manufacturers of
innovative lifting solutions for use on commercial vehicles and in the maritime
field. As a multinational group headquartered in Salzburg, the Company, which
has approx. 8,995 employees, generated total sales of approx. EUR 1,229.9
million in 2015.
 
The Group has production and assembly facilities in Europe, in North and South
America, as well as in Asia. The pillars of corporate strategy comprise
innovation and the further internationalization as well as the growing
flexibility of products, services and processes. PALFINGER is regarded not only
as the market leader, but also the technology leader, in the global market for
hydraulic loader cranes. PALFINGER is always in proximity to its customers due
to its over 5,000 sales and services centres located in over 130 countries
across all continents.


Further inquiry note:
Hannes Roither, PALFINGER AG
Konzernsprecher
Tel. +43 662 2281-81100 
h.roither@palfinger.com


Text und entsprechendes Bildmaterial stehen auch im Newsroom unserer
Internetseite www.palfinger.ag zur Verfügung.

end of announcement                               euro adhoc 
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issuer:      Palfinger AG
             Lamprechtshausener Bundesstraße 8
             A-5020 Salzburg
phone:       0662/2281-81101
FAX:         0662/2281-81070
mail:         ir@palfinger.com
WWW:      www.palfinger.ag
sector:      Machine Manufacturing
ISIN:        AT0000758305
indexes:     Prime Market
stockmarkets: official market: Wien 
language:   English