Hiab acquires Effer | Crane Plus

Hiab acquires Effer | Crane Plus:

Loader crane manufacturer Hiab has acquired the Effer loader cranes business from the CTE group at a price that values the company at €50 million. 

Effer was established in 1965, and is based in Minerbio, Italy, with 400 employees and revenues last year of €71 million, with an operating profit of €6.1 million. It has a range that currently runs from three to 300 tonne/metres, along with special application truck cranes, and marine cranes. It sells thought around 100 dealers covering 60 countries.
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Hiab and its parent Cargotec, says that the acquisition will be a key building block in its aim to come the market leader for loader cranes. The Effer range will significantly boost Hiab’s large crane range, particularly over 100 tonne/metres where Effer is a leading player. The initial plan is for Effer to continue to operate as a standalone division of Hiab, maintaining the Effer brand and its dealer network.
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Hiab president Roland Sundén said: "I am happy to welcome Effer to the Hiab family. This acquisition is a bold step in line with our growth strategy to be the global leader in on-road load handling and in particular in loader cranes, the industry that Hiab founded nearly 75 years ago." 

Effer chief executive Lorenzo Cipriani added: "Through its size and global scale, Hiab offers the most optimal opportunities for continued growth for Effer and I am delighted that Effer is becoming part of an organisation with an equally proud past, passion for quality and reliability, and drive for innovation." 
An Effer 120000-3S loader crane in a marine application
An Effer 120000-3S loader crane in a marine application

Hiab senior vice president cranes Joakim Andersson, said: "With a comprehensive crane portfolio and a strong global sales and service presence in complementary geographies, Hiab and Effer will jointly become a stronger partner for our customers, helping them reach their full potential." 

The acquisition is subject to regulatory approvals and should complete sometime in the second half.

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