EQS-News: 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.

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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.

 

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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 | [1]h.roither@palfinger.com

Texts and accompanying images are available in the “News” section of
[2] www.palfinger.ag, [3] www.palfinger.com.

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

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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

1348961  12.05.2022 

References

Visible links
1. h.roither@palfinger.com
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