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PALFINGER Strengthens North America Business through its Acquisition of Omaha Standard



September 30, 2008

Austrian PALFINGER announced the 100% takeover of Omaha Standard, Inc ., one of the leading producers of truck bodies and pick-up tail lifts in the U.S. With this step, the PALFINGER Group is making use of current market opportunities in order to strengthen its market position in North America in the longer term.

Omaha Standard is a U.S. family-run business with a long tradition of producing and selling a wide range of truck bodies, especially for the domestic market. Its two main products are service vehicle bodies and pick-up tail lifts, placing Omaha Standard among the top three players on the U.S. 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, IA, in addition to nine body workshops and/or dealers in the U.S. Moreover, its products are sold and serviced via a distribution network comprised of approximately 400 centers.

Within the PALFINGER Group, Omaha Standard will have the status of a subsidiary of the U.S.-based PALFINGER USA, Inc., and the site in Omaha will become the production center for local products under the leadership of existing management.

About Palfinger AG: 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. Its 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 30 percent.