Palfinger Buses it in Brazil25 September 2012
Last week Palfinger acquired bus lift manufacturer Tercek in Brazil.
Increasing its Brazilian presence beyond cranes, the company sited the upcoming demand on bus transport expected by the FIFA 2014 and Olympics 2016 games as the main driver.
Palfinger, which makes passenger lifts in the UK, will use the acquisition to make more accessibility products, as well as funding expansion in the market.
It plans on relocating Tercek's Caxias do Sul, Brazil bus lift production facility to its own site at Caxias do Sul.
Tercek is a small enterprise, developing Líbero-brand bus lifts and producing metal componenets.
The Brazilian government provides funding for engineering innovation at Tercek though its Studies and Projects Finance Organization (FINEP).
Herbert Ortner, CEO of Palfinger, said, "For Palfinger, South America is a growth market in which we want to strengthen our presence with products beyond loader cranes.
"Líbero is a first-rate product for a growing market segment, and it conforms to regional requirements.
"In Great Britain we are already in the market with passenger lifts, and we are developing regional products in the rest of Europe as well.
"The takeover of Tercek is a small but valuable step for our growth in South America."