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02.10.2014

Palfinger completes on Russian company

Palfinger has completed the acquisition of Russian forestry and recycling loader crane company PM-Group Lifting Machine – click here to see original report.

Palfinger now has a controlling 60 percent interest in the company with Steindl Forsttechnik acquiring 20 percent. The details of the deal have not been disclosed.

Palfinger chief executive Herbert Ortner said: “The acquisition of PM-Group Lifting Machines marks a significant expansion of PALFINGER’s and the Steindl family’s activities in Russia. Together we will be able to offer our customers a broad range of products and enhanced service, primarily in the field of timber and recycling cranes.”

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