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Palfinger extends reach as world market leader

Logo from © Palfinger AG

© Palfinger AG

7. November 2008

The take over of US company Omaha Standard solidifies the Salzburg company's top position in the manufacture of hydraulic lifting, loading and handling systems.

The listed crane manufacturer from Salzburg, Palfinger , this week finalised the acquisition of Omaha Standard, Inc. and its operational subsidiary. Omaha Standard is one of the top three players on the US market in the field of truck bodies and pick-up tail lifts.

Established in 1932, the company has for many years been among the leading international manufacturers of hydraulic lifting, loading and handling systems. As a multinational company group with its headquarters in Salzburg, Austria, Palfinger has production and assembly sites in Europe, in North and South America as well as in Asia.

The core product is the truck mounted knuckle-boom crane. The company is the world market leader in this segment with close to 150 models and a market share of over 30%. Palfinger is also the world’s biggest manufacturer of hookloaders and timber cranes (PALIFT and GUIMA) and EPSILON timber and recycling cranes. In addition, the company develops innovative solutions for railway applications, bridge inspection and recycling. Tail lifts and truck-mounted aerial work platforms, as well as cranes for use in agriculture, forestry and other off-road applications, complete the product range.

The Palfinger Group is 65% owned by the Palfinger family. The company was first listed on the Vienna stock exchange in 1999, and has been listed in New York since 2005. The Group’s shares are also traded over-the-counter on stock exchanges in Stuttgart, Berlin, Munich, Düsseldorf and Frankfurt. In 2007 the company’s 3,860 staff generated revenues of EUR 696 million. Palfinger currently employs a workforce of around 5,000 and revenues this year are expected to reach around EUR 800 million.

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