Palfinger Group News

The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published this morning by the Oslo Stock Exchange following a detailed review. PALFINGER aims to acquire 100 percent of the TTS shares. Apart from the necessary anti-trust approvals, the offer is also subject to the condition that at least 90 per cent of all the shares in TTS be offered to the PALFINGER Group (with PALFINGER having already secured acceptance of a total of approx. 66.3 per cent). The initial deadline for acceptance of the offer is 12 August 2016. The Board of Directors of TTS recommends that its shareholders accept PALFINGER’s offer.

The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving equipment and lifecycle services for maritime installations and ships. The PALFINGER Group’s new member will be reported on as a fully consolidated company starting from the second quarter of 2016. As a consequence of the acquisition – the largest in the history of the PALFINGER Group – PALFINGER expands its marine business by adding new products and a global service network.

The PALFINGER Group has signed today the acquisition of 100 per cent 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 one of the 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. The final closing of this acquisition of Harding by PALFINGER is contingent on the approval of the authorities. Both parties have agreed not to disclose the purchase price. Styrk Bekkenes, CEO of Harding, is very enthusiastic about the acquisition. “PALFINGER is a perfect match for 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.

Since the integration of Ned-Deck Marine into the Palfinger Group in 2010, the Business Area Palfinger Marine said it has strengthened its position as a deck equipment supplier in the maritime, offshore and wind industries worldwide. Based on these developments, and to enable the communication of a single strong brand name to the market, the decision was made to unite Ned-Deck Marine with Palfinger Marine under the new company name Palfinger Ned-Deck. “To continue the Group’s rapid growth in market share, increase our focus on customer care and innovation through product synergy effects, Ned-Deck Marine will change its name to Palfinger Ned-Deck.

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…