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Palfinger

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Headquartered in Salzburg, Austria, Palfinger specializes in the manufacturing of equipment designed for lifting, loading and handling applications. The company’s product range includes truck-mounted cranes, industrial knuckleboom cranes, timber and recycling cranes, and telescopic cranes. In addition Palfinger also produces transportable forklifts, tailgates, container handling systems and high-tech railway system solutions.

The company’s products, sold through 12 separate business sectors, are offered extensively throughout Europe where it occupies a strong share of the lifting and loading market, as well as in South America, North Amercia (U.S.A. and Canada) and Asia.

Contents

[edit] History

In 1932 Richard Palfinger founded a repair and fitter’s shop for agricultural trailers, tippers and vehicle bodies. For the next 20 years the company focused primarily on the development of agricultural items until in 1959, it developed its first crane. By 1964, Hubert Palfinger, the eldest son of Richard Palfinger, had steered the company in an entirely new direction—specializing in hydraulic truck loading cranes. The company’s first series of hydraulic truck loading cranes, produced in 1996, were exported to Switzerland and France. The company had at last established its niche in the crane market.[1]

[edit] Reaching Out to New Markets

Since its establishment in 1932, Palinger has expanded its product line to encompass a diverse range of crane types. Starting in 1980 the company developed underwater cranes for laying pipelines on drilling platforms. In 1988, recycling and forestry cranes introduced under the name Epsilon were introduced filling out the company’s product range. Palfinger also developed a special crane used on farms under the STEPA brand name in 1990. Seven years it introduced a transportable forklift under the name CRAYLER. Other products included a tailgate (PALGATE) and the launch of the company’s own lifting platforms under the name ACCESS. In 2008, Palfinger launched the company’s first series of high-performance cranes-PK-50002EH.[2]

[edit] Product Development & Patents

Through the years Palinger has invested heavily into research and development, constantly pushing the envelope in crane development and design. In 2007, Palinger invested a total of 13.7 million euros.[3] The company has received numerous and as of the end of 2007, held an active 48 patents.[4]

1971- Hydraulic lift instantaneous automatic control system and cylinder arrangement on the extension system
1973 – Mast grab (first references to hydraulic truck crane as a multifunctional machine)
1976 – Foldable boom (cranes with a large outreach can be folded up saving much-needed space)
1997 – Cable drum grab (crane attachment)
1992 – Sequential control, swing-up stabilizers, and paltronic and return oil utilization
1997- Hydraulic overload safety device[5]

[edit] Mergers & Acquisitions

• In 1999 acquired the French-based company Guima, S.A. — the world’s largest manufacturer of hookloaders

• In 2001 acquired Tiffin Loader Cranes and established Palfinger within the U.S.A

• Also in 2001 took over the Brazilian Company Madal S.A. forming MADAL-Palfinger in Brazil

• During 2004 Palfinger acquired German-based BISON, a market leader in truck-mounted aerial platforms. Company’s ACCESS products are integrated in to the new BISON-PALFINGER brand.

• In 2005 acquires a UK company producing commercial and passenger tail lifts.

• Took over ELEVANT unit of WUMAG (GmBH), a leading German manufacturer of truck mounted access platforms in 2008. Also acquired Omaha Standard Inc., leading producer of truck bodies and tail lifts in the U.S. and the MBB Group[6]

[edit] The Company Today

Palfinger currently trades on the Vienna Stock Exchange. The company’s acting CEO is Herbert Ortner.

Palfinger reported revenue of EUR 795 million for 2008.[7] Three acquisitions made by Palinger in the later part of 2007 and 2008 supported the company’s growth despite a shaky economy and low demand for cranes in major European markets such as Spain, Great Britain, and Italy. In the first quarter of 2009 experienced a huge slump in revenue, ending up almost EURO 2 million in the black.[8]

[edit] Equipment List

[edit] References

  1. History. Palfinger Official Corporate web site. 13-08-2009.
  2. History. Palfinger Official Corporate web site. 13-08-2009.
  3. Research and Development. Palfinger Official Corporate web site. 13-08-2009.
  4. Research and Development. Palfinger Official Corporate web site. 13-08-2009.
  5. History. Palfinger Official Corporate web site. 13-08-2009.
  6. History. Palfinger Official Corporate web site. 13-08-2009.
  7. Preliminary results 2008 of the Palfinger Group underline strong market position. Press Release. Palfinger Official Corporate web site. 13-08-2009.
  8. Palfinger expanding in USA. Austrian Times. 13-08-2009.

[edit] External Links