Palfinger AG

euro adhoc: Mergers - Acquisitions - Takeovers
PALFINGER AG - Acquisition in North America

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Global Expansion


PALFINGER strengthens North America business through its acquisition of Omaha Standard

o 100-percent takeover of one of the top three suppliers of truck
bodies and      pick-up tail lifts in the US  o Local enhancement of
the value creation through local development,      purchasing,
manufacturing, and assembly  o Support of future growth in the US

PALFINGER announces the 100-percent takeover of Omaha Standard Inc., one of  the leading producers of truck bodies and pick-up tail lifts in the  US.  With  this step the PALFINGER Group makes use of current market opportunities in  order  to strengthen its market position in North America in the longer term.

Omaha Standard is a US family-run business with a long  tradition  of producing and selling a wide range of truck bodies especially  for   the  domestic  market. The two main products are service bodies and pick-up tail lifts,  placing  Omaha Standard among the top three players on  the  US  market.  The  company  has  an excellent workforce as well as a  state-of-the-art  manufacturing  and   assembly plant with a KTL painting facility in Council Bluffs, Iowa, in addition to  nine body workshops and/or dealers in the US. Moreover, its  products  are  sold  and serviced via a distribution network comprised of approximately 400 centres.

With a workforce of 450 the company generates annual revenues  of   approximately EUR 55 million. The North American share in the total revenues generated by  the PALFINGER Group will be doubled by Omaha Standard and for the first time  exceed the ten-percent mark. The manufacturing site and the US specific product  series will further support PALFINGER's future growth in this market. Thanks  to  local purchasing, manufacturing, and assembly,  PALFINGER  will  intensify its  value creation in the US, thereby further increasing natural hedging.

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ots Originaltext: Palfinger AG
Im Internet recherchierbar:

Further inquiry note:
Hannes Roither, PALFINGER AG
Company spokesperson
Phone +43 662 46 84-2260
Anton Graf
Investor Relations
Phone +43 662 46 84-2275

Branche: Machine Manufacturing
ISIN:      AT0000758305
WKN:        919964
Index:    ATX Prime, ATX
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Palfinger AG

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