euro adhoc: Mergers - Acquisitions - Takeovers
PALFINGER - Acquisition of MBB
Liftsystems AG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information/Übernahme
29.10.2007
Adhoc - R E L E A S E
PALFINGER takes over one of the global leaders in tail lift manufacturing
o 100 percent acquisition of MBB Liftsystems AG o Considerable strengthening of the TAIL LIFT product division o Continuation of PALFINGER's internationalisation and diversification strategy o Acquisition will increase the Group's revenues by around 10 percent
Bergheim, Salzburg, 29 October 2007
Subject to the approval of the Austrian and German antitrust authorities, PALFINGER will take over MBB, one of the top-three players in the global market for tail lifts. The German company MBB Liftsystems AG is headquartered in Ganderkesee / Hoykenkamp near Bremen and maintains distribution subsidiaries in Great Britain, France, Belgium, the Slovak Republic, and the US. With decades of experience in the development, production, and distribution of tail lifts, the company offers a comprehensive range of technically mature products that are well established in the market. In the 2007 financial year, MMB will generate revenues of around EUR 65 million, employing a staff of 260.
MBB works with dealers and/or distribution partners in almost 40 countries all over the world, the number of installed bases in the market of currently around 100,000 shows its strong market position.
The headquarters of MBB in Germany will become the centre of excellence for the continental European tail lifts of PALFINGER. RATCLIFF products, which are tailor-made for the British market, and the MBB location in the US, which also includes an assembly plant, will not be affected. The existing successful
MBB management team will remain part of the company and will support its integration into the PALFINGER Group.
This acquisition matches PALFINGER's strategy to grow through
internationalisation and diversification. MBB will be active in the secondary segment "HYDRAULIC SYSTEMS and SERVICES" of the PALFINGER Group as part of the TAIL LIFT division, thus giving stronger weight to this segment. PALFINGER will thus become one of the global top-three players with another product and be less dependant on regional and industry-specific fluctuations in the main business areas.
end of announcement euro adhoc 29.10.2007 07:24:31
Further inquiry note:
Hannes Roither, PALFINGER AG
Company Spokesperson
Tel.: +43 662 46 84-2260
mailto:h.roither@palfinger.com
Anton Graf, PALFINGER AG
Investor Relations
Tel. +43 662 46 84-2275
a.graf@palfinger.com
www.palfinger.com
Branche: Machine Manufacturing
ISIN: AT0000758305
WKN: 919964
Index: ATX Prime
Börsen: Wiener Börse AG / official market