EQS-News: PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger S.A.S.

EQS-News: Palfinger AG / Key word(s): Takeover/Investment
   PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger
   S.A.S.

   12.05.2022 / 09:59
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   PRESS RELEASE Bergheim, Austria, May 12, 2022

   PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger
   S.A.S.

   - Share acquisition ensures implementation of Strategy 2030 and
   PALFINGER's global Hooklift strategy

   - Closing of transaction planned for May 2022

   - Bundling of global R&D initiatives for Hooklifts in Caussade

   PALFINGER AG acquires 35% minority interest in Guima Palfinger S.A.S.
   (Guima) from Compagnie Générale Vincent S.A.S., so that PALFINGER holds
   100% of shares in future. Guima is headquartered in Caussade, France, and
   is the central production plant for Hooklifts and Skiploaders within
   PALFINGER AG, having a significant market share in the EMEA region and a
   high export share to the NAM region.

   Realization Supports Strategy 2030 and Global Hooklift Strategy
   The acquisition of the minority interest contributes strongly to the
   efficient implementation of PALFINGER AG's Strategy 2030 and global
   Hooklift strategy. Andreas Klauser, CEO of PALFINGER AG, sees this as a
   clear advantage: “This allows us to implement our localization strategy of
   producing in the region for the region. An important step in the ongoing
   development of the GLOBAL PALFINGER ORGANIZATION that we defined in
   Strategy 2030. It will accelerate decision-making processes and make them
   more flexible while swiftly capitalizing on cost synergies.” We are happy
   to announce that, as majority owners of PALFINGER France, the Vicent
   family remains one of PALFINGER's most important strategic partners and
   contributes to the overall result.

   R&D Initiatives to be Bundled
   This transaction enables PALFINGER to bring together cross-product R&D
   initiatives and further integrate the Hooklift development site Caussade
   into PALFINGER AG’s global R&D network.

   Important Step for Growth in the Future
   Decision-making flexibility and speed are essential for a successful
   future. “The acquisition of this minority interest allows us to react
   quickly and efficiently to competitor and market developments in the EMEA,
   NAM and LATAM regions,” adds Andreas Klauser, CEO of PALFINGER AG.

    

   +++

   ABOUT PALFINGER AG
   The international mechanical engineering firm of PALFINGER is the world’s
   leading producer of innovative crane and lifting solutions. With around
   12,000 employees, 34 manufacturing sites and a worldwide network of
   dealerships and service centers at over 5,000 locations, PALFINGER takes
   on its customers’ challenges and creates added value. PALFINGER is
   consistently continuing on its course as a provider of innovative,
   complete solutions that deliver increased efficiency and better
   operability, while leveraging the potential of digitization along the
   entire production and value chain.

   PALFINGER AG has been listed on the Vienna stock exchange since 1999 and
   in 2021 achieved record revenue of EUR 1.84 billion. In 2022, PALFINGER
   celebrates its 90th anniversary under the tagline “Celebrating the future
   since 1932.”

   Further inquiries:
   Hannes Roither | Group spokesperson | PALFINGER AG
   T +43 662 2281-81100 | [1][email protected]

   Texts and accompanying images are available in the “News” section of
   [2]www.palfinger.ag, [3]www.palfinger.com.

   ══════════════════════════════════════════════════════════════════════════

   12.05.2022 This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Palfinger AG
                Lamprechtshausener Bundesstraße 8
                5020 Salzburg
                Austria
   Phone:       +43 (0)662/2281-81101
   Fax:         +43 (0)662/2281-81070
   E-mail:      [email protected]
   Internet:    www.palfinger.ag
   ISIN:        AT0000758305
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1348961


    
   End of News EQS News Service


   1348961  12.05.2022 

References

   Visible links
   1. mailto:[email protected]
   2. about:blank
   3. about:blank

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print