02.11.2007

Palfinger acquires MBB

Palfinger has agreed the acquisition of MBB Liftsystems AG of Ganderkesee/ Hoykenkamp near Bremen, Germany, one of the top three producers of tail lifts worldwide.

MBB operates distribution outlets in the UK, France, Belgium, the Slovak Republic, and the USA.

MMB is on target to generate revenues of around €65 million in 2007 and employs 260. MBB was part of the Daimler Benz group until 1996 and once owned Holland lift.

Palfinger’s chief marketing officer Herbert Ortner said: “MBB will considerably strengthen our tail lift product division, which is still very small. At the moment, we only cover a small area with the Palgate tail lift and Ratcliff products. With MBB we will be able to complete our product portfolio and to enter markets in which we are not yet represented with our tail lifts such as, North America.”

MBB produces around 15,000 tail lifts a year and sells them across 40 countries it has an installed lift population of around 100,000 units.

The average annual growth in the tail market over the medium to long term is estimated to be in the region of three to five percent.

The headquarters of MBB in Germany will become Palfinger’s centre of excellence for the continental European tail lifts of Palfinger. Ratcliff products, which are tailor-made for the British market and MBB’s operation in the USA, which also includes an assembly plant, will not be affected.

The MBB management team will remain part of the company and will support its integration into the Palfinger.

MBB will join the Hydraulic Systems and Services sector of the Palfinger Group as part of the Tail lift division.

CEO Wolfgang Anzengruber said: “With the acquisition of MBB we will not only all at once reach our goal of becoming one of the global top-three players with another product but the strong growth in the area of Hydraulic Systems will of course also make us less dependant on regional and industry-specific fluctuations in our main business areas.“