16.07.2014

Palfinger invests in Hidro Grubert

Palfinger has acquired a 30 percent stake in Hidro-Grubert the Argentinian manufacturer of truck and trailer mounted aerial lifts, loader cranes, truck service bodies and skid steer loaders.

The deal includes an option for Palfinger to acquire further shares in the company and to buy a controlling interest in the business over the next three to five years. The Bertotto family members who own Hidro-Gruber will remain part of the management team, including chief executive Sergio Bertotto. The company had revenues of around $16.1 million last year and employs 200,
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The Hidro Grubert plant in Río Tercero, Córdoba.

Hidro-Grubert was founded by Andres N. Bertotto in 1937, to repair rebuild and refurbish agricultural machinery.

In 1954 it dropped the repair business to concentrate on manufacturing agricultural machinery and the founder was joined by his son Domingo Tomás Bertotto. In 1969 the company began building cranes and work platforms.
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A Hidro Grubert pick up mounted lift

Palfinger chief executive Herbert Ortner said: “Hidro Grubert is going to open up the Latin American access platform market for us. We believe in long-term growth in Latin America. With this shareholding, we are strengthening our market position. Sergio Bertotto, the largest shareholder and managing director of Hydro Grubert will remain as chief executive and will join the management and the Supervisory Board. “
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A Hidro Grubert loader crane

“With Palfinger we will be able to achieve faster and more sustainable growth, because we will have access to the resources and technologies of the global market leader. The group’s experience in internationalization and marketing will also be valuable for us,” added Bertotto.