Hyva acquires Amco Veba Group
26 January 2007Tipper truck and hook loader hydraulics manufacturer Hyva has bought loader crane manufacturers Amco Veba and Fratelli Ferrari for an undisclosed sum. "We like to think of it as a merger," said Hyva sales and marketing manager Hans Arends.
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"By adding cranes to the existing portfolio, Hyva is increasing its image of a one stop shop supply to the commercial vehicle industry," the company said. "Our customers are trailer builders. Once in a while they want a crane. We also make hook loaders. The hook loader/crane combination is common," Arends said.
Amco Veba says that the deal, which it calls a "strategic agreement", will allow its dealers to sell complementary products such as hook loaders, and allow entry into new markets. "Thanks to the presence of important Hyva subsidiaries in the new growing economies of the world, including India, China and Brazil, Amco Veba will be able to enter markets characterized by extremely high potential growth rates if approached using new marketing and sales strategies."
Hyva said that the managing director of Amco Veba and Fratelli Ferrari, Dr. Giancarlo Perego, will continue in his position to maintain the Amco Veba and Fratelli Ferrari brands.
But through a prior arrangement, the Holland and Belgium Hyva subsidiaries will continue to sell HMF loader cranes exclusively for markets in Holland, Belgium and Luxembourg.
Hyva acquired the Dutch loader crane firm Kennis in 1991. Recent acquisitions include Dutch firm hook loader firm Technamics in 1998, and hydraulic division of the German manufacturer Georg Group in 2001. Hyva has realised a consolidated turnover in 2006 of over €250 million with 24 Hyva subsidiaries in 18 different countries.
