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PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger S.A.S.

EQS-News: Palfinger AG / Key word(s): Takeover/Investment
PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger S.A.S.
12.05.2022 / 09:59
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE Bergheim, Austria, May 12, 2022

PALFINGER AG: Acquisition of 35% minority interest in Guima Palfinger S.A.S.

- Share acquisition ensures implementation of Strategy 2030 and PALFINGER's global Hooklift strategy

- Closing of transaction planned for May 2022

- Bundling of global R&D initiatives for Hooklifts in Caussade


PALFINGER AG acquires 35% minority interest in Guima Palfinger S.A.S. (Guima) from Compagnie Générale Vincent S.A.S., so that PALFINGER holds 100% of shares in future. Guima is headquartered in Caussade, France, and is the central production plant for Hooklifts and Skiploaders within PALFINGER AG, having a significant market share in the EMEA region and a high export share to the NAM region.

Realization Supports Strategy 2030 and Global Hooklift Strategy
The acquisition of the minority interest contributes strongly to the efficient implementation of PALFINGER AG's Strategy 2030 and global Hooklift strategy. Andreas Klauser, CEO of PALFINGER AG, sees this as a clear advantage: “This allows us to implement our localization strategy of producing in the region for the region. An important step in the ongoing development of the GLOBAL PALFINGER ORGANIZATION that we defined in Strategy 2030. It will accelerate decision-making processes and make them more flexible while swiftly capitalizing on cost synergies.” We are happy to announce that, as majority owners of PALFINGER France, the Vicent family remains one of PALFINGER's most important strategic partners and contributes to the overall result.

R&D Initiatives to be Bundled
This transaction enables PALFINGER to bring together cross-product R&D initiatives and further integrate the Hooklift development site Caussade into PALFINGER AG’s global R&D network.

Important Step for Growth in the Future
Decision-making flexibility and speed are essential for a successful future. “The acquisition of this minority interest allows us to react quickly and efficiently to competitor and market developments in the EMEA, NAM and LATAM regions,” adds Andreas Klauser, CEO of PALFINGER AG.


+++

ABOUT PALFINGER AG
The international mechanical engineering firm of PALFINGER is the world’s leading producer of innovative crane and lifting solutions. With around 12,000 employees, 34 manufacturing sites and a worldwide network of dealerships and service centers at over 5,000 locations, PALFINGER takes on its customers’ challenges and creates added value. PALFINGER is consistently continuing on its course as a provider of innovative, complete solutions that deliver increased efficiency and better operability, while leveraging the potential of digitization along the entire production and value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2021 achieved record revenue of EUR 1.84 billion. In 2022, PALFINGER celebrates its 90th anniversary under the tagline “Celebrating the future since 1932.”

Further inquiries:
Hannes Roither | Group spokesperson | PALFINGER AG
T +43 662 2281-81100 | h.roither@palfinger.com

Texts and accompanying images are available in the “News” section of www.palfinger.ag, www.palfinger.com.


12.05.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com

Language:

English

Company:

Palfinger AG

Lamprechtshausener Bundesstraße 8

5020 Salzburg

Austria

Phone:

+43 (0)662/2281-81101

Fax:

+43 (0)662/2281-81070

E-mail:

ir@palfinger.com

Internet:

www.palfinger.ag

ISIN:

AT0000758305

Listed:

Vienna Stock Exchange (Official Market)

EQS News ID:

1348961


 

End of News

EQS News Service

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