EANS-News: PALFINGER AG: Expansion in Catalonia - IMAGE
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers
Bergheim - PALFINGER today signed a contract for the takeover of EQUIPDRAULIC in
Barcelona. This acquisition strengthens PALFINGER Iberica's position in the
Spanish market and, above all, in Catalonia, a strong industrial region.
Since 1999, EQUIPDRAULIC, S.L.U. has been distributing the majority of the
PALFINGER product range in Catalonia. As a partner of PALFINGER Iberica and
founded in 1992, the dealership has 18 employees and is responsible for the
sale, installation and service of our products. Despite COVID-19, the company
increased its sales in the industrial region to almost five million euros in
2020.
100 percent takeover
With the takeover by PALFINGER EMEA GmbH, the operating business of EQUIPDRAULIC
will be integrated into PALFINGER Iberica. The transaction consists of 100
percent of the shares, all of which are owned by NOVADRAULIC, S.L. The co-
founder and owner Ramón Bassa Sebastián will actively support the integration
during the next two years.
Leveraging synergies, generating growth
With this acquisition, PALFINGER ensures the continuation of the excellent
service and sales network with its site close to local customers, as well as
expansion of the company's competencies in Granollers, Barcelona. To help
achieve this, the existing team will be strengthened by additional employees.
"This acquisition sends a clear message: PALFINGER continues to grow, even in
times of crisis. Catalonia is one of the largest industrial regions in Spain.
With this integration, we are leveraging synergies and generating additional
growth," explains PALFINGER CEO Andreas Klauser, who goes on to emphasize:
"Joining our long-standing partner is an important step towards providing our
Catalan customers with even more intensive and comprehensive support - in line
with our brand promise: Creating value together." The contract for the
acquisition was signed in Barcelona on February 10.
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ABOUT PALFINGER AG
The international mechanical engineering firm of PALFINGER is the global leader
for innovative crane and lifting solutions. With a workforce of approximately
11,000, 35 manufacturing sites and a worldwide network of dealerships and
maintenance centers at over 5,000 locations, PALFINGER is always close to the
customer.
As the leader in its engineering field, the company aims to ensure its partners'
business success in the long term by providing solutions and products that
remain economically and ecologically viable in the future. Its broad product and
model portfolio allows PALFINGER to take digitalization and the deployment of
artificial intelligence to new levels.
As a global company with strong roots in its home region, PALFINGER is convinced
that thinking and acting in the interests of sustainability plays a vital role
in successful business operations. This is why the company assumes social,
ecological and economic responsibility along the entire value chain.
PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2019
achieved record revenue of EUR 1.75 billion.
Further inquiry note:
Hannes Roither | Company Spokesperson | PALFINGER AG
M +43 664 206 92 47 | h.roither@palfinger.com
Texts and accompanying images are available in the "News" section of
www.palfinger.ag, www.palfinger.com.
end of announcement euro adhoc
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Pictures with Announcement:
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http://resources.euroadhoc.com/images/2034/5/10660683/PALFINGER_Equipdraulic_1.jpghttp://resources.euroadhoc.com/images/2034/5/10660683/PALFINGER_Equipdraulic_2.jpg
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
ISIN: AT0000758305
indexes:
stockmarkets: Wien
language: English
