Maritime Consolidation: Palfinger Aims to Acquire Harding
As maritime markets continue to struggle, merger and acquisition activity should heat up. Today, Austria's Palfinger Group announced that it intends to acquire 100% of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group. The seller is the Norwegian private equity fund Herkules. Harding is a leading suppliers of lifesaving equipment and lifecycle services for maritime installations and ships. Through this acquisition, PALFINGER will add new products and an international service network to its marine business.
Statoil Awards Cranes Contract to Palfinger Dreggen
Palfinger Dreggen has been awarded contract for crane delivery to the Johan Sverdrup field with a total order value of approximately MNOK 285. The delivery includes seven large offshore cranes and the contract was signed with Statoil in May, in strong competition with other international crane suppliers. The cranes will have a lifting capacity of 60 tons and an outreach of approximately 60 meters and shall be delivered with full-electric drive. The electric drive contributes to both energy efficiency and reduced maintenance.
Asset Deal: Palfinger Dreggen and MCT Engineering
Palfinger Dreggen finalized the agreement for purchase of the assets in connection with the marine and offshore cranes product areas of the Korean crane manufacturer MCT Engineering Co., Ltd. The acquisition follows Palfinger Marine’s takeover of the Norwegian offshore crane manufacturer and is designed to help expand and intensify the partnership between both companies, which stretches back many years. “With the acquisition of Dreggen in the fourth quarter of 2012, we took a significant growth step for our Business Area Marine. Together, we managed to obtain the largest order in the history of Palfinger in early 2013. It comprises, to be precise, two orders with a total value of approximately €90 million, which we are going to fill in the years to come.
Palfinger Acquires 75% Ned-Deck Marine
The Palfinger Group is acquiring a 75% interest in the Dutch company Ned-Deck Marine B.V. (NDM). NDM manufactures rescue boat davits, a special application of marine cranes. The company is headquartered in the Netherlands and has another production facility in Vietnam. The existing management team will stay in place. With the entry in the market of ship-mounted cranes Palfinger is expanding its previous truck-related product range. With its davit systems NDM primarily operates…
