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ots Ad hoc-Service: PALFINGER AG <AT0000758305>Palfinger acquires distribution network in the USA and steps up North American operations

Bergheim/Salzburg (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
Palfinger acquires
distribution network in the USA and steps up North American
operations * Formation of Palfinger USA * Acquisition of Tiffin
Loader Crane - Palfinger's largest US distributor * Expansion of the
existing North American site in Niagara Falls to cater for new
products
Vienna-quoted Palfinger is stepping up its North American
operations. The first stage of this process has been completed by
Palfinger's acquisition of the largest US distributor for Palfinger
cranes, Tiffin Loader Crane Co., in Tiffin, Ohio, and the formation
of Palfinger USA, Inc., based at the same location. In its role as a
distributor Tiffin, also known in the US as a specialist in high-tech
truck and trailer bodies, is responsible for about 50 percent of
Palfinger's US sales. Tiffin Loader Crane employs 35 people in three
areas - Special Bodies, Sales and Service. The existing management
will remain in place. The purchase price is not being disclosed.
Tiffin will continue to exist as a wholly owned Palfinger USA
subsidiary, and will in future be responsible for all Palfinger Group
US distribution and after-sales business. In response to US
customers' frequently voiced wish for a domestic partner, the
business is being divided between the existing Palfinger company
based in Niagara Falls, Canada and the new Palfinger subsidiary. The
move was also necessary in order to be able to exploit the potential
of the US market more fully. Palfinger will also benefit from
Tiffin's excellent reputation as a technology leader in sophisticated
solutions for the truck, transport and handling sectors. Palfinger
USA will have a head count of about 20.
The previous North American distribution business, Palfinger Inc.,
Niagara Falls,Canada, will continue to service the Canadian crane
market. In addition,the site will be re-equipped for the final
assembly and distribution of Palfinger's new systems, such the hook
loader, Crayler and Mobiler products, so as to give Palfinger's North
American business a broader base.

Contact:

Hannes Roither, Palfinger AG phone +43 (0)662 4684 2260
h.roither@palfinger.com

www.palfinger.com

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