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Palfinger Continues US Growth Strategy

April 7, 2010

 The Austrian Palfinger Group Aquires an 80% Stake in ETI 

 With the majority takeover of the U.S. truck mounted aerial lifting producer Equipment Technology (ETI), the Salzburg-based company will not only increase its total revenue by about 6%, but also expects important synergy effects for its existing U.S. business. According to Palfinger CEO Herbert Ortner, the acquisition of the Oklahoma-based company is also a strategically important step towards greater diversification. Six years ago, Palfinger set the goal of continuously reducing its dependence on European sales and the crane segment in general. Through this acquisition, Palfinger North America as a proportion of Palfinger’s total business increases from 12% to around 18%.
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