Canadian mast climber manufacturer Fraco has acquired Spanish mast climber and hoist manufacturer Saltec/Torgar.
The deal includes all products marketed under the Torgar brand, including construction hoists, mast climbing work platforms and transport platforms, along with Saltec's 10,000 square metre production facility in Zaragoza, Spain. Fraco says that the acquisition will allow it to increase production capacity and accelerate its planned manufacturing activities in Europe.
Fraco joint president Julie Rainville said: “The reputation of the Torgar brand is well established, these products are found not only in Europe, but also in South America and African countries as well as the Middle East. The decision to acquire the Torgar brand represents the best strategy to strengthen Fraco Products position in Europe and extend its reach internationally.
The move follows Fraco's recent agreement to merge its subsidiaries in the UK and France - Fraco UK and Fraco Sasu - with Spanish sales and rental company Turboiber Elevación, in order to expand its sales and market penetration across Europe. See European merger for Fraco and Turboiber Elevación
Torgar was established in the 1950s, to make wheelbarrows, pulleys and concrete mixers, later changing its corporate name to Saltec. It turned its attention to hoists during the 1960’s and 70’s retaining the Torgar brand, it produces both cabel suspended and rack & pinion hoists, personnel elevators, transport platforms and work platforms as well as continuing to manufacture concrete mixers.