With continuing economic cautiousness around the globe many fleet owners are holding onto existing equipment and delaying new crane purchases. Reflecting this is the loader crane sector where manufacturers are focusing on strategic investments and acquisitions, enhancing current portfolios, and celebrating heritage to help bolster their presence.
The most recent sector acquisition was announced in mid-October: Jost, a German producer and supplier of safetycritical systems for the commercial vehicle industry (not the tower crane manufacturer!), acquired Netherlands-based loader crane manufacturer Hyva. Jost bought Hyva for EUR 362 million, which will be financed through a combination of cash and debt.
Founded in 1979, Hyva is headquartered in Alphen aan den Rijn and operates in more than 110 countries and has over 3,500 employees around the world.
Hyva encompasses more than 30 subsidiaries globally has and 14 production facilities in across China, India, Brazil, Mexico, Germany and Italy, servicing the transport, agriculture, construction, mining and environmental industries.
According to Jost the acquisition of Hyva will add over EUR 600 million in sales to the group and it believes the purchase will help transform it into an even stronger supplier for commercial vehicles with combined pro-forma group sales of around EUR 1.8 billion and a combined pro-forma group adj. EBIT of EUR 175 million (based on LTM June 2024 figures).
Jost says that the addition of Hyva to its portfolio will improve its access to fast-growing off-highway markets, particularly those of India, Asia and Brazil. Jost also plans to leverage the new products in its portfolio to strengthen its position in the North American off-highway market.
Joachim Dürr, CEO of Jost Werke SE, said: “The acquisition of Hyva is a significant strategic step to push Jost forward on its path to become the number one supplier for on- and off-highway commercial vehicles worldwide. With Hyva, we are… expanding our product portfolio with a wide variety of smart hydraulic solutions and increasing Jost’s exposure to fast-growing off-highway markets.
“Hyva complements and enhances Jost’s family of marketleading brands. The strong know-how and industry expertise of Hyva’s management team and its highly motivated staff fit Jost’s focus on customer orientation, service excellence and high product quality. Together, we are well placed to capitalise on the large infrastructure investments in India, Asia, Brazil and North America, opening up new growth fields for Jost.”
Alex Tan, CEO of Hyva, commented: “The acquisition by Jost represents a great opportunity for Hyva. With Jost we have found a strong, long-term oriented industrial partner also committed to advance technology and supply customers with innovative and efficient solutions for transportation, agricultural, construction, mining and environmental commercial vehicle applications.
“Joining forces will strengthen our market position globally and expand our product offerings. My team and I look forward to bringing our businesses together, developing new markets and seizing new growth opportunities.”
In the last 12 months, ending June 30, 2024, Hyva generated sales of about EUR 629 million. Jost expects Hyva’s profitability to match its targeted adj. EBIT margin corridor (of 10% to 12%) two years after closing. It says the acquisition will unlock further opportunities for profitable growth, boosting its position as a global supplier for the commercial vehicle industry and further enhancing its ability to serve customers across the globe.
The closing of the acquisition is subject to approval by the relevant authorities and is expected to be completed by early 2025.
The acquisition takes place on Hyva’s 45th anniversary in business and the IAA Transportation tradeshow in Hannover, Germany, in September provided an opportunity for the company to celebrate the occasion.
At the show Hyva showcased its HC183X, an 18tm mid-size crane from its Edge line. According to Hyva the crane is well-suited to construction and logistics applications with a wide range of accessories. The HC183X on display offered four hydraulic extensions, Hyva’s most advanced CE control system, a seven-inch display, and radio control.
SMART THINKING
Also exhibiting at the IAA trade show was Bergheim, Austriaheadquartered crane manufacturer Palfinger which displayed its heavyduty PK 1350 TEC loader crane.
According to Palfinger the crane has been redesigned from the ground up and offers an outreach of up to 38.7 metres and a lifting capacity of 109.3 metre tonnes.
Palfinger says it has equipped the new TEC series of loader cranes with a variety of ‘smart’ features. For example, Lane Lock is designed to prevent unintentional pivoting into areas such as the oncoming traffic lane; Slewing Lock is used to define pivot angles and arcs; Folding Assist enables operator to semi-automatically find the exact position to fold the crane – minimising time and potential damage; and Boom Release Assist automatically ensures that the knuckle boom is always pretensioned before the main boom can be moved.
Palfinger, too, is celebrating an anniversary: June 4, 2024, marked the company’s 25th anniversary on the Vienna Stock Exchange.
“The IPO (initial public offering) made it possible to expand the financing base and achieve our strategic goals,” says Andreas Klauser, CEO of Palfinger AG. “Access to capital markets has significantly supported growth.”
Since the IPO, the company says revenue has increased tenfold from EUR 243 million to EUR 2.45 billion, while share prices have more than quadrupled with a price of EUR 5.25. In 2023 the company achieved record revenue of EUR 2.45 billion.
Palfinger is investing some of its profits in strengthening its customer service capabilities by opening new premises.
In March it announced the opening of a new site in Perth, Western Australia focused on the marine segment. Palfinger says it chose Perth as the location for the new office due to the presence of major companies in both the offshore and oil and gas industries in the region.
And in October Palfinger UK announced the signing of a long-term lease for a new Service Centre near London.
The centre is strategically located to serve businesses in central and greater London.
The 13,090 sq. ft service centre will complement Palfinger UK’s existing workshops in Devizes, Bradford, Falkirk and Leicester, further bolstering its sales, service, parts and training offerings.
Operational features of the new facility include eight dedicated workshop bays (with an overhead crane), secure yard space with crane testing facilities, plus office and meeting spaces.
“Adding our new London service centre is an exciting investment which represents a significant milestone in Palfinger UK’s ongoing commitment to representing the Palfinger brand, and deliver worldclass support to our customers,” said Stuart Todd, managing director of Palfinger UK. “Our senior leadership team has been working hard to bring this project to fruition for some time, and this step provides a long-awaited presence in this key location.
“As the official UK dealer of Palfinger cranes, this strengthens our ability to offer both existing and prospective customers, enhanced after-sale services, as well as improved access to our renowned sales, technical, parts and training portfolios. It will allow us to better meet the needs of more businesses across the region.”
CONSOLIDATING LEADERSHIP
Also enjoying expansion is Albino, Bergamo-headquartered crane manufacturer Fassi Gru. The company’s latest acquisition, in June, was Bavaria Fahrzeugbau – a provider of customer-specific body solutions for commercial vehicles.
Bavaria Fahrzeugbau is headquartered in Wendelstein, Germany, and employs around 130 people across four manufacturing locations in Himmelkron, Wirsberg, Wendelstein and Nuremberg.
Giovanni Fassi, managing director of Fassi Gru, visited Bavaria Fahrzeugbau’s HQ in the summer where he confirmed that there are no plans to change the corporate direction of the company, saying the aim of the acquisition was to consolidate leadership in the German market.
Fassi’s latest loader crane is the F1250R-HXP, part of the Techno range. It has nine hydraulic extensions offering up to 33.4 m horizontal outreach and 37 m vertical reach with the L436 hydraulic extension. This increases to 43.5 metres with the addition of three manual extensions.
The crane’s outer boom has an X-design profile and a lifting capacity of more than 96 tm. It is equipped with Fassi’s FX990 digital control system. Thanks to the three dedicated CAN-bus lines, the unit is designed to optimally manage the sensors, controls and connection to the vehicle. Connectivity and processing power is further enhanced by two Ethernet lines.
80TH ANNIVERSARY
Another company celebrating an anniversary is Malmo, Swedenheadquartered loader crane manufacturer Hiab. The company was founded in Hudiksvall, Sweden, by Eric Sundin and Einar Frisk in 1944 – meaning this year marks its 80th year in business.
Hiab is part of the Cargotec group. It is, however, currently in the process of being made a standalone company again after Cargotec decided to carry out a structure change which will result in three separate businesses emerging from the current Cargotec group.
The group is selling its MacGregor marine business and, as of 1 July 2024, demerged its Kalmar brand to form a separate listed company. Once finalised these changes will then leave Hiab as a standalone business.
In its half-year 2024 financial report Cargotec reported continued strong profitability for Hiab, although it said delayed decision making continued to impact customers’ ordering behaviour. Orders received declined by seven percent to EUR 348 million.
Hiab’s sales decreased from a record-breaking comparison period by 11 percent to EUR 433 million. Service sales continued to increase and amounted to EUR 115 million, representing 27 percent of Hiab’s sales. Despite lower sales, Hiab’s profitability remained on a good level and the comparable operating profit amounted to EUR 69 million, corresponding to 15.9 percent of sales.
With new product launches, however, the company is optimistic for the future. This is reflected in new long-term financial targets set for 2028 where Hiab aims to grow over seven percent over the cycle and to reach a comparable operating profit of 18 percent (as a business area of Cargotec) and deliver an over 25 percent operative ROCE. Setting Hiabspecific financial targets is also a major milestone on Hiab’s journey to become a standalone company, says Cargotec.
LATEST LOADER
Hiab’s most recent new loader crane was launched in September. It is the Hiab iQ.708 Hipro, a heavy loader crane in the 60 to 70tm range category. It has a maximum vertical reach of 40 metres and, with a of 15 tm jib, can deliver materials with an ‘up and over’ of 26 metres.
The crane is equipped with Hiab’s most advanced control system, SPACEevo, designed to provide improved productivity and safer crane operation.
“The design philosophy behind the structure of the crane is to deliver a balance between performance and overall installation flexibility, enabling customers to benefit from more payload on a wide assortment of truck installations, which are key elements for the users in this segment,” says Stefano Brusa, director, Global Product Management Heavy & Superheavy Loader Cranes, Hiab.
COMPLETE CONTROL
With the iQ.708 Hipro Hiab introduced its Syncronised Distance Control (SDC) function designed to help operators during complex operations. The SDC allows operators to automatically keep the load at a set distance from the crane’s tip while only having to operate the extension movements from the remote.
This, says Hiab, reduces the need for operators to use multiple levers at the same time and so increases safety; this is particularly useful when handling loads that are farther and higher away from the operator, where visibility becomes the main obstacle to a safe movement.
The iQ.708 Hipro also has a Load Stability System for vertical movements (LSS-V). This is designed to compensate for unintentionally excessive lever movement in vertical operations, while the Variable Stability Logic PLUS (VSL+) function optimises lifting capacity by monitoring the position and pressure of the stabiliser legs actively using the available load on the truck.
These functions are complemented by the CD4 remote control, claims Hiab, which provides operators with three large displays, haptic feedback for alerts and crane reactions, and personalised operator crane settings. Hiab will take orders for the new crane in Q4 of 2024.
Prior to the iQ.708 Hipro release, in July, Hiab launched the eX.Hipro range which, it claims, provides energy savings of up to 30% thanks to new hydraulic systems. The range comprises: the eX.142 Hipro; eX.162 Hipro; eX.192 Hipro; and eX.232 Hipro – which are all available in different configurations.
The eX.Hipro range has pressure-compensated, loadsensing hydraulics which are optimised for high oil flow to reduce fuel consumption and CO2 emissions. Hiab says this makes operations more efficient and environmentally-friendly, plus it’s quieter. The eX.Hipro is fully compatible with electric vehicles although, if installed with a diesel engine, its engine control with Dynamic RPM and Automatic Start/Stop functionality help enhance energy efficiency.
The eX.Hipro also comes with Hiab’s SPACEevo control system. Combined with the crane’s Olsbergs V200 valve and PFD function, Hiab says the eX.Hipro offers smooth simultaneous movements, reducing pressure drops and heat generation.
“We created the eX.Hipro loader crane range to offer a leading market performance, substantial energy efficiency savings, superior capacity, speed and precision,” says Barry McGrane, SVP Loader Cranes Light and Medium, Hiab. “Helping our customers in their sustainable growth journey is key for us and the Hiab eX.Hipro is a product that will greatly aid in those efforts.”
Hiab has also expanded its spare parts offering with the introduction of the ‘Red Parts and Exchange’ programme to complement its ‘Original Parts’ service. The service is aimed at equipment in the latter part of its lifespan. Through the Exchange Parts programme customers can return used components and obtain replacement parts at a lower price than a new standard original part.
“We want to offer all customers spare parts priced right for their equipment, regardless of age and condition,” says Michael Bruninx, senior vice president, Services, Hiab. “We have therefore complemented our Original Parts with Red Parts and Exchange Parts that present a compelling value proposition for customers with ageing units, characterised by limited remaining lifespan and low utilisation levels. The new spare parts portfolio will provide customers with peace of mind, as it helps provide safe operations and reliable performance.”
CLASSIC UPDATED
In July Italian manufacturer of truck-mounted hydraulic cranes PM announced an updated version of one of its most popular models; the new PM 15.5 P is an evolution of the PM 15.5. According to PM, the success of the PM 15.5 led it to further develop it and the company says it has increased the machine’s efficiency and ease of use.
The crane now meets the latest CE standard, EN 12999. To ensure that the new 15.5 P is compatible with Euro 6 two-axle vehicles, up to 15 tonnes of GTW, including electric models, PM says it has significantly modernised the crane’s base, which is now more compact and lighter, thanks to the use of high-strength, next generation materials.
To minimise the footprint, the crane has also been equipped with new and more efficient hydraulic outriggers capable of rotating 180 degrees and aligned with the stabilising beams.
As with the previous PM 15.5, the new ‘P’ version belongs to the Classic line and does not have connecting rods, maintaining a design that PM claims prioritises simplicity and effectiveness.
So we can see that the loader crane sector is experiencing dynamic shifts as manufacturers navigate economic uncertainties with strategic acquisitions, technological innovations, and service expansions. The number of companies celebrating milestones and embracing change demonstrates resilience and a forward-looking approach to business. Whether through new models, updates, smart control systems or energy-efficient designs, the sector continues to evolve, pushing the boundaries of loader crane capabilities.
NEW CHIEF FINANCIAL OFFICER FOR HMF GROUP
In March Danish loader crane manufacturer HMF Group appointed Henrik Skjærbæk Jensen as its new Chief Financial Officer replacing, Klaus Skov Mortensen, who served six years at HMF.
Jensen comes from a position as CFO at Elektro-Isola A/S, where he has been employed since 2021. Previously, Jensen worked within finance at Bestseller A/S and BB Electronics A/S. Jensen is a qualified accountant and holds a BCom (Accounting).
“HMF Group has an annual turnover within the billionleague (DKK), and we are dedicated to substantial investments in digitalisation, automatisation and innovation initiatives and solutions,” said Mikkel Winther Andersen, CEO of HMF Group.
“The focus is on staying ahead of the curve, ensuring continuous development and growth on both national and global scales. In this connection Henrik will play a vital role in the ongoing progress of HMF.”
