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Palfinger

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PALFINGER AG
Company typeStock Company
IndustryEngineering
Founded1932
FounderRichard Palfinger
HeadquartersBergheim, Austria
Key people
  • Andreas Klauser (CEO)
  • Felix Strohbichler (CFO)
  • Alexander Susanek (COO)
  • Maria Koller (CHRO)
RevenueIncrease €2.45bn (2023)[1]
Number of employees
12,728 (2023)[1]
Websitewww.palfinger.com/en-us
The Palfinger crane PK 58.002 TEC 7 in use at the construction site.

The Palfinger AG (stylized as PALFINGER AG), headquartered in Bergheim (Salzburg/Austria), is a publicly traded technology and machinery manufacturing company for hydraulic crane and lifting equipment for the land and maritime sectors. The company, founded in 1932, is known for its truck-mounted loader cranes.[2][3]

With over 100 models of this product, Palfinger is considered a global market leader.[4][5]

History[edit]

1930s to 1960s: Foundation and orientation[edit]

The history of Palfinger dates back to 1932, with the founding of a repair shop for agricultural trailers, tippers, and vehicle bodies by Richard Palfinger.[6][7] The company built its first crane in 1959, and when Richard's son Hubert took over management in 1964, production was switched to hydraulic loader cranes.[6][8]

1970s to 2000s: Internationalization and expansion[edit]

In the following years, the focus was on expanding the product range and internationalizing the company. In 1984, the company opened an assembly and manufacturing plant in Lengau with 90 employees.[9] By 1989, Palfinger had expanded into over 70 countries and achieved an export rate of over 90%. In 1993, a plant was acquired in Maribor, Slovenia.[10] Additionally, Palfinger opened a plant for the production of skip loaders in France.[11] To further expand its business in the U.S. market, Palfinger acquired the American crane dealer Tiffin Loader Cranes and established Palfinger USA Inc.[12] Furthermore, in 2001, the company acquired a partner in the South American market by acquiring the Brazilian company Madal.[13]

The company went public in June 1999.[14] In 2004, Palfinger acquired Bison Deutschland, a provider of truck-mounted aerial work platforms.[15] A year later, the company acquired the British producer of tail lifts and entry systems, Ratcliff Tail Lifts.[16] In 2005, the company opened an Asia headquarter in Singapore along with other locations in Asia.[17] Additionally, Palfinger invested in its existing production sites in Bulgaria, Slovenia, Eastern Germany, and the USA.[18]

In 2008, Palfinger acquired the American company Omaha Standard in Iowa, which manufactures truck bodies and liftgates for pickups.[19] Additionally, they acquired the aerial work platform division of the German company Wumag.[20] In 2009, Palfinger purchased the container handling system manufacturer Automated Waste Equipment (AWE) in New Jersey,[21] as well as acquiring an 80% stake in the aerial work platform manufacturer Eti Inc. in Oklahoma.[22] The following year, Palfinger entered the marine crane market through the acquisition of 75% of the Dutch company Ned-Deck Marine.[23]

2010s: Growth through collaborations[edit]

In 2010, Palfinger acquired the marine and wind crane division of Palfinger Systems.[24] In 2012, a collaboration with the Chinese construction machinery manufacturer Sany Heavy Industries (Sany) began, resulting in the construction of a plant in Changsha.[25][26] That same year, Palfinger acquired the Brazilian metal component producer Tercek[27] and the Norwegian Bergen Group Dreggen AS, which produces marine and offshore cranes.[28][29] In 2013, Palfinger, together with the company Sky Aces Srl., founded Palfinger Platforms Italy, which is active in the development, production, and sale of aerial work platforms.[30][31] At that time, the company operated over 29 facilities in 18 countries.[32] Additionally, Sany acquired 10% of the shares in Palfinger, while Palfinger acquired 10% of the shares in Sany Lifting Ltd.[33]

In 2015, the new company headquarters in Bergheim was opened,[34] accompanied by investments ranging from €3 million to €6 million in expanding the production site in Löbau.[35] The following year, Palfinger acquired the Norwegian Harding Group, which almost doubled its business in the marine sector.[36][37] In the fiscal year 2016, Palfinger achieved a revenue of €1.36 billion. Furthermore, Sany reduced its stake to 7.5%.[38]

In June 2018, Andreas Klauser took over as the CEO.[39]

2020s: Expansion of Locations and Sales[edit]

In 2020, Palfinger acquired its second-largest independent distributor worldwide, Hinz Försäljnings, based in Sweden,[40] and the following year took over the Spanish distributor Equipdraulic.[41] The cross-shareholding with the Sany Group of 7.5% was dissolved by the end of 2021.[42] Furthermore, Palfinger began expanding the technology center in Köstendorf with investments totaling €5 million.[43] In the same year, Palfinger acquired the companies TSK Kran und Wechselsysteme GmbH and TSR Lacktechnik.[44] Additionally, they acquired the rights to the Offshore Passenger Transfer System (OPTS) technology from Lift2Work B.V.[45] In the fiscal year 2023, the company surpassed the revenue threshold of €2 billion for the first time.[46]

In 2022, Palfinger opened a new location in Vienna called The Hub Vienna[47] and relocated the truck-mounted aerial work platform production from Krefeld to Löbau.[48] The company also opened the Palfinger Campus as a training and education center and Palfinger World at its site in Lengau.[49][50] In June 2023, Palfinger established a central hub for its activities in the USA in Schaumburg, Illinois.[51] In 2023, Palfinger signed a ten-year contract with the Norwegian oil exploration and development company Aker BP for the development and market introduction of remote-controlled offshore cranes. In implementing this project, Palfinger is collaborating with the software developer Optilift.[52][53]

Corporate structure[edit]

Palfinger achieved a revenue of €2.45 billion in the fiscal year 2023 with 12,728 employees.[1] For the fiscal year 2023, the company generated 59.9% of its revenue in the EMEA region. North America accounted for 24.7% of the revenue.[54] The company has production and sales locations in Europe, North and South America, as well as Asia. Palfinger has more than 5,000 sales and service points in more than 130 countries.[55] The Palfinger family directly or indirectly holds 56.4% of the company's shares, making them the main shareholder.[56]

Ownership structure[edit]

As of: January 2024[57]
Name Anteil (in Prozent)
Palfinger family 56.4
Palfinger AG 7.5
Free float 36.1

Since June 1999 Palfinger has been listed on the official market of the Vienna Stock Exchange.[58] The shares of Palfinger AG have also been traded on the OTC market of the Stuttgart, Berlin, Düsseldorf, and Frankfurt stock exchanges since mid-June 2000.[59]

Products[edit]

Crawler Crane PCC 115.002 in operation
Palfinger ship crane

The main product of Palfinger AG is the loader crane, Palfinger has over 100 models of this product and is the world market leader in this field.[5][8][60][4] The company manufactures access platforms, truck-mounted forklifts, loader cranes, timber and recycling cranes, marine cranes, wind cranes, hooklifts, and railway systems.[2]

Palfinger produces a number of different types of lifting technologies for specialized and more general applications:[61]

* Loader cranes
  • Timber and recycling cranes
  • Access platforms
  • Hooklifts and skip loaders
  • Railway systems
  • Tail lifts
  • Passenger boarding systems
  • Truck mounted forklift
  • Crawler cranes
  • Factory mounting
  • Boats and davit systems
  • Wind cranes
  • Marine and offshore cranes

Additionally, for the North American market, Palfinger also offers specific products such as Truck mounted forklifts.[62]

References[edit]

  1. ^ a b c "Key Figures of the Palfinger Group" (PDF). Annual Report: 3. 2023 – via Palfinger AG.
  2. ^ a b Feiertag, Gabriel (26 June 2023). "Palfinger – Weltmarktführer für Ladekräne und hydraulische Systeme [Porträt]". Trend. Retrieved 17 July 2024.
  3. ^ "Palfinger AG (PFI.F)". Yahoo! Finanzen. Retrieved 17 July 2024.
  4. ^ a b "Palfinger ist Hersteller von hydraulischen Hebe- und Ladevorrichtungen". Kronen Zeitung. 1 July 2018.
  5. ^ a b "Palfinger: Erfolge in Europa, Russland, China". Die Presse. 1 February 2018.
  6. ^ a b Pleininger, Hans (16 May 2011): "Palfinger ist Salzburgs bestes Familienunternehmen". Wirtschaftsblatt.
  7. ^ "Kräne für die ganze Welt". Die Presse. 30 April 2005.
  8. ^ a b "Österreichs Exporteure stellen sich dem Wettbewerb". Wirtschaftsblatt. 1 July 2015.
  9. ^ "Ein Ort mit Hebelwirkung". Kronen Zeitung. 1 August 2021.
  10. ^ "Der globalisierte Kran". Salzburger Nachrichten. 4 February 2005.
  11. ^ Berger, Sabine (23 April 2007): "Frankreich ist wichtiger Markt mit Eigenheiten". Wirtschaftsblatt.
  12. ^ "Palfinger kauft US-Kranhändler". Salzburger Nachrichten. 16 January 2001.
  13. ^ "Aufstieg zum Global Player". Salzburger Nachrichten. 6 June 2002.
  14. ^ "Wie Kräne in den Himmel wachsen". Die Presse. 11 March 2006.
  15. ^ "Palfinger-Kräne bald in Asien montiert". Salzburger Nachrichten. 17 March 2005.
  16. ^ "Palfinger will in England hoch hinaus". Kurier. 15 June 2005.
  17. ^ Mayr, Michael J. (8 November 2005): "Palfinger setzt am Asien-Markt kräftig die Hebel an". Wirtschaftsblatt.
  18. ^ Mayr, Michael J. (26 January 2007): "Palfinger stockt heuer an neun Standorten auf". Wirtschaftsblatt.
  19. ^ "Palfinger kauft US-Spezialfirma Omaha". Börsen-Zeitung. 26 September 2008.
  20. ^ "Palfinger nutzt die Krise zur Expansion". Salzburger Nachrichten. 26 February 2009.
  21. ^ "Salzburger Betriebe kaufen in den USA zu". Salzburger Nachrichten.10 July 2009.
  22. ^ "Palfinger will nach Akquisition in den USA Zukauf im Osten heben". Der Standard. 30 March 2010.
  23. ^ "Palfinger kauft groß in den Niederlanden zu". Die Presse. 12. August 2010.
  24. ^ "In Kürze – Palfinger vervollständigt die Sparte der Marinekräne". Die Presse. 29 October 2010.
  25. ^ Paravicini, Stefan (1 March 2012): "Wir wollen China zu unserem zweiten Heimatmarkt machen". Börsen-Zeitung.
  26. ^ "Palfinger baut auf China". Kurier. 29 February 2012.
  27. ^ "Palfinger kauft in Brasilien ein". Salzburger Nachrichten. 21 September 2012.
  28. ^ "Kranhersteller Palfinger expandiert auf hoher See".Kronen Zeitung. 31 October 2012.
  29. ^ Bruckberger, Hans-Jörg (6 November 2012): "Palfinger: Ein Marine-Zukauf macht noch keinen sicheren Hafen". Wirtschaftsblatt.
  30. ^ Exner, Andre (20 February 2013): "Palfinger baut in Italien Hubarbeitsbühnen". Wirtschaftsblatt.
  31. ^ "Palfinger gründet Joint Venture für Hubarbeitsbühnen in Italien" [Palfinger founds Joint Venture for Aerial work platforms in Italy]. Windkraft-Journal (in German). 19 April 2018. Retrieved 16 July 2024.
  32. ^ "Palfinger zieht es in entfernte Regionen". Salzburger Nachrichten. 9 August 2013.
  33. ^ "Chinesen steigen bei Palfinger ein". Salzburger Nachrichten. 1 October 2013.
  34. ^ Veigl, Stefan (26 September 2015): "Familie investiert 25 Millionen in neue Zentrale". Salzburger Nachrichten.
  35. ^ Brestrich, Carina (2 February 2015.): "Hebebühnen-Spezialist wächst über sich hinaus". Sächsische Zeitung.
  36. ^ "Palfinger wird maritimer". Börsen-Zeitung. 31 May 2016.
  37. ^ "Palfinger wird zu großem Schiffsausrüster". Wiener Zeitung. 19 July 2016.
  38. ^ "1500". Salzburger Nachrichten. 9 November 2017.
  39. ^ "Andreas Klauser soll neuer CEO werden". Eilbote Online. 19 April 2018. Retrieved 17 July 2024.
  40. ^ "Palfinger expandiert weiter". Kronen Zeitung. 6 December 2020.
  41. ^ "Palfinger übernimmt spanischen Partner". Salzburger Nachrichten. 11 February 2021.
  42. ^ "Palfinger und Sany lösen ihre Kreuzbeteiligung". Salzburger Nachrichten. 16 December 2021.
  43. ^ "Investitionen in die Zukunft". Kurier. 21 May 2021.
  44. ^ "Palfinger übernimmt Partner TSK". Neues Volksblatt. 23 November 2021.
  45. ^ "Palfinger baut Marinegeschäft aus". Salzburger Nachrichten. 6 October 2021.
  46. ^ "Palfinger verzeichnet Rekordjahr mit erstmals mehr als 2 Milliarden Euro Umsatz". Wirtschaftszeit. 23 February 2023. Retrieved 16 July 2024.
  47. ^ "Ein Standort für die Zukunft". Medianet. 2 December 2022.
  48. ^ van Appeldorn, Markus (29 June 2023). "Löbau wird wichtigster deutscher Produktionsstandort von Palfinger". Sächsische Zeitung. Retrieved 17 July 2024.
  49. ^ "Palfinger verspricht Ausbildung auf höchstem Niveau: Neuer Campus eröffnet". Allgemeine Bauzeitung. 17 June 2023. Retrieved 17 July 2024.
  50. ^ Fink, Georg (10 May 2023). "Palfinger-Campus in Lengau setzt Impuls für die Ausbildung". Salzburger Nachrichten. Retrieved 17 July 2024.
  51. ^ Klug, Melanie (28 July 2023). "Palfinger: Nordamerika als Wachstumstreiber". Die Presse. Retrieved 17 July 2024.
  52. ^ "Palfinger erzielt 2023 historisches Rekordjahr". Börse am Sonntag. 7 March 2024. Retrieved 17 July 2024.
  53. ^ Hasenauer, Emanuel (12 April 2022). "Ferngesteuerte Krane für Norwegens Offshore-Plattformen". MeinBezirk.at. Retrieved 17 July 2024.
  54. ^ "Result of Operations" (PDF). Annual Report: 35. 2023 – via Palfinger AG.
  55. ^ "Palfinger at a Glance: The Palfinger Group" (PDF). Annual Report: 4. 2023 – via Palfinger AG.
  56. ^ "Declaration Pursuant to Section 243C and Section 267B of the Austrian Business Code" (PDF). Annual Report: 77. 2023 – via Palfinger AG.
  57. ^ "Ownership structure" (PDF). Annual Report: 10. 2023 – via Palfinger AG.
  58. ^ "Börsengeschichte 4.6.:Palfinger, Wien". 4 June 2024. Retrieved 17 July 2024.
  59. ^ "About Palfinger" (PDF). European Women's Management Development International Network. 2012. Retrieved 17 July 2024.
  60. ^ "Wie man schnell einen Kran faltet". Der Standard. 9 March 2016.
  61. ^ "Product Solutions" (PDF). Annual Report: 5. 2023 – via Palfinger AG.
  62. ^ "Steyr Automotive angelt sich Großauftrag der Palfinger AG". Österreichisches Volksblatt. 8 March 2023. Retrieved 17 July 2024.

Weblinks[edit]

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