Austrian loader crane manufacturer Palfinger has bought its largest US distributor, Tiffin Loader Crane Co. based in Tiffin, Ohio, and formed Palfinger USA Inc. at the same location.
Tiffin is responsible for about 50% of Palfinger’s sales in the USA. The existing management will remain in place. The purchase price was not disclosed.
Tiffin will continue as a wholly owned subsidiary of Palfinger USA and is now responsible for all Palfinger Group US distribution and after-sales business.
The previous North American distribution business, Palfinger Inc. of Niagara Falls, Canada, will continue to service the Canadian crane market. In addition, the site will be re-equipped for the final assembly and distribution of Palfinger’s new systems, such the hook loader, Crayler and Mobiler products, to give Palfinger’s North American business a broader base, said the company.
* Palfinger has also announced projected results for 2000 showing sales revenue up 28% to E313m and earnings before taxation and interest up 67% to E45m. In 2000 it sold 17,097 cranes and systems, a 25% rise on 1999. Demand for truck cranes and hook loaders was a key factor in this growth, the company said. It was the third successive year of record growth, a trend the company expects to continue in 2001.
