UK based modular spreader beam company Modulift and Austrian lifting chain manufacturer Pewag have agreed a ‘strategic alliance’.
The two companies agreed the deal at the end of last week but have not disclosed or been specific on the details of the transaction. A joint statement from the two said: “This partnership will leverage each company’s unique strengths and assets to expand customer reach, as well as to promote the service to a higher level.”
Pewag group managing director Ägyd Pengg said: “Adding the know how, products and services of Modulift to our existing range of lifting devices is a perfect match. Aligned through our shared vision for the highest quality products, passion for innovation and globally renowned brands, we are moving forward into the future working together to keep the lifting industry safe.”
Modulift managing director and shareholder, Sarah Spivey, added: “Combining forces to strengthen our products and markets around the world, we will be increasing our global distribution network whilst continuing to offer unrivalled levels of customer service.”
Pewag can trace its origins back to 1479 when a forge was established in Brückl – south west of Graz. The company still has a facility in the town but is now headquartered in nearby Klagenfurt.
This is an interesting move, and while it is starting out on the basis of the two companies working together and cross selling each others products, it has the feel of an agreement that may have deeper longer term aims? It may well be a sign that Pewag is looking to cautiously spread its wings and add other below hook products to its portfolio, and possibly consider some acquisitions along the way?
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