23.06.2008

Palfinger takes over Wumag

Palfinger has confirmed that it is in the final stages of taking over the Elevant aerial work platform division of Wumag GmbH. The deal will be signed this week for an undisclosed amount.

Wumag which currently builds the world's largest aerial lift is one of Europe’s oldest truck mounted manufacturers, building platforms for more than 40 years.

Palfinger sees the platform division of Wumag – which has revenues of around €40 million, as an ideal fit. Its Bison TKA range of truck mounted platforms has a maximum working height of 61 metres and the addition of Wumag WT range of products would extend this to just over 100 metres.

A spokesman for Palfinger said that Wumag would keep its own brand – continuing as Wumag Palfinger - but that the Bison and Wumag companies would integrate common business operations such as marketing and financial.

The Wumag facilities are also situated close to Bison – about 15 minutes away – allowing for example Wumag to use the Bison paint plant.

Palfinger is listed on the Vienna Stock Exchange and has its headquarters in Salzburg. The antitrust authorities are likely to approve the takeover in summer 2008.


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