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Palfinger sets sight on two specialist firms for expansion

Technology

Palfinger is set to acquire two specialist companies — Palfinger systems GmbH and Gulf-based Megarme — to expand its offshore business

Palfinger, manufacturer of cranes, hydraulic lifting, loading and handling systems, is expected to acquire 85 per cent of Palfinger systems GmbH, headquartered in Salzburg, Austria.

Through Megarme, Palfinger will acquire its structure in the Arab region — UAE and Qatar — which is a core market for oil and gas industry, company sources said. The company specialises in the service business and provides rope access technologies.

Palfinger systems GmbH develops and produces innovative technologies in engineering and processing for rig platforms.

Both companies also offer systems for accessing and performing repair and maintenance work on ships and oil rigs, including interior and exterior cleaning, rust and paint removal, recoating, inspection and repairs.

Herbert Ortner, CEO of Palfinger, said, “The acquired solutions have now reached a degree of maturity that makes them an extremely interesting addition to our portfolio.

“At the same time, Palfinger systems GmbH needs capacities and structures for production and services in order to be able to exploit the additional potential.”

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