CARGOTEC CORPORATION, PRESS RELEASE, 6 NOVEMBER 2018 AT 9:30 AM EET
Hiab, part of Cargotec, has completed the acquisition of Effer S.p.A. from CTE Group. Signing of the transaction was announced
on 31 July 2018. For Hiab as the global leader in on-road load handling solutions, this acquisition means a significant advancement in its ambition to be leader in cranes and preferred partner for its customers.
Effer, headquartered in Minerbio, Italy, and with approximately 400 employees, is a renowned premium knuckle-boom crane manufacturer. Effer's product range includes truck loader cranes, special application truck cranes, and marine cranes, with particular recognition for heavy cranes >100 tm capacity. Distribution is managed through a network of more than 100 dealers covering around 60 countries globally.
The addition of Effer will mean a further strengthening of Hiab's development and innovation competence, an enhanced total cranes portfolio, increased coverage from widely complementary sales and distribution networks, and leverage Hiab's service competence. These combined assets shall translate to continued brand and business growth and further improved experience for both brand's customers.
Effer will continue to operate under its recognised brand and identity, and through its established dealer and distribution partner network. Effer will be part of Hiab's global cranes organisation, with Lorenzo Cipriani continuing as Managing Director Effer, reporting to Joakim Andersson, Senior Vice President Cranes, Hiab.
"I am incredibly proud today to welcome Effer and its employees as part of the Hiab family. Bringing our two proud histories, strong brands and unique competence together will make Hiab and Effer stronger and able to even better serve our customers", says Joakim Andersson. Scott Phillips, new president of Hiab, adds "It is in both of our companies' DNA to innovate and now to truly lead this industry. I have no doubt, that combining our strengths will soon create tangible value to customers, partners, our people and combined business."
"With Effer becoming part of Hiab, two organizations with strong cultures and committed employees come together. We will make sure to nurture our unique strengths, the combined talent and unlock our growth potential," adds Joakim Andersson. "We are really proud to be part of Hiab. This represents a great opportunity for Effer to bring our passion, professionalism, and our solutions to truly global scale and success," concludes Lorenzo Cipriani, Managing Director Effer.
The financial result of Effer S.p.A. will be consolidated in Hiab business area financials as part of Cargotec from November 2018.
Joakim Andersson, Senior Vice President, Cranes, Hiab;
firstname.lastname@example.org, tel. +46 706 126 124
Lorenzo Cipriani, Managing Director Effer;
email@example.com , tel. +39 051 41 81 211
Nikolaus Scheurer, Vice President, Marketing & Communications, Hiab;
firstname.lastname@example.org, tel. +46 706 005 237
Luca Piovan, Marketing and Communications Manager, Effer;
email@example.com, tel. +39 051 41 81 211
Hanna-Maria Heikkinen, Vice President, Investor Relations, Cargotec;
firstname.lastname@example.org, tel. +358 408 262 172
Hiab is the world's leading provider of on-road load handling equipment, intelligent services, smart and connected solutions. Hiab's more than 4,000 employees worldwide work passionately for Hiab to be the number one partner and preferred load handling solution provider to its customers. As the industry pioneer and with a proud 75 year history, Hiab is committed to inspire and shape the future of intelligent load handling.
Hiab's class-leading load handling equipment includes HIAB, EFFER and ARGOS loader cranes, LOGLIFT and JONSERED forestry and recycling cranes, MOFFETT and PRINCETON truck mounted forklifts, MULTILIFT skiploaders and hooklifts, and tail lifts under the ZEPRO, DEL, and WALTCO brands. Hiab ProCare(TM) service, the award-winning HiVision(TM) crane operating system, or the HiConnect(TM) platform demonstrate Hiab's constant drive to provide intelligent services and smart solutions that add value to its customers. www.hiab.com
Hiab is part of Cargotec Corporation. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion, and it employs over 11,000 people. www.cargotec.com
Effer is a globally renowned manufacturer of truck-mounted loader and marine cranes, with lifting capacities from 3 to 300 tm. For over 50 years, Effer's mission has been to create high-quality products that provide outstanding performance for demanding tasks that give maximum value to lifting experts around the world. Headquartered in Minerbio (BO), Italy, Effer relies on the passion and expertise of its approx. 400 employees. All of Effer's cranes are designed, developed, manufactured and tested at its own facilities in Italy, and made available all over the world through its partners network. Learn more www.effer.com
Effer is part of Hiab, the world's leading provider of on-road load handling equipment, intelligent services, smart and connected solutions. As the industry pioneer and with a proud 75 year history, Hiab is committed to be the preferred partner and solution provider to its customers and shape the future of intelligent load handling. www.hiab.com Hiab is part of Cargotec Corporation. www.cargotec.com