Palfinger divests service body business in North America
Signing of purchase agreement between market leader Reading Truck Group and PalFleet Truck Equipment
Transfer of four locations to the buyer
Optimization of the PALFINGER North America Group’s product portfolio
The PALFINGER Group reached an important milestone in the restructuring of its business in North America. A purchase agreement was executed with the Reading Truck Group to transfer the service body distribution and upfitting business at four locations. Reading Truck Group will assume the customer commitments and specified assets at four PalFleet sites: Council Bluffs, IA, Indianapolis, IN, Louisville, KY and Nashville, TN. The transaction is expected to close in March 2017.
Omaha Standard LLC will exit the service body business and continue the manufacturing and marketing of PALFINGER core products, primarily including the best-in-class PALFINGER brand PAL Pro Mechanics bodies, telescopic service cranes and Liftgates. The future strategic direction of PalFleet will include a strong focus on these same core products, in addition to the sales, installation and service of PALFINGER articulating cranes and truck mounted forklifts through its remaining locations. With a strong commitment to these core products, PALFINGER will provide a differentiating value proposition to key market segments in North America. Such a focused strategy allows for future growth of these competitive product lines.
The service body has been part of PALFINGER’s product portfolio since 2008, when it was acquired as part of Omaha Standard. In the course of the restructuring measures launched in 2016, the decision was made to optimize the product portfolio and focus on the core business. The transaction with the Reading Truck Group will support the restructuring process.
ABOUT THE PALFINGER NORTH AMERICA GROUP
Worldwide, PALFINGER is the technology leader, standing for the most innovative, reliable and efficient lifting, loading and handling solutions for use on commercial vehicles. In North America since 1989, our established product portfolio qualifies PALFINGER as a complete truck-equipment solution provider. Industry sectors rely on PALFINGER-built knuckle boom cranes, ETI aerial lifts, liftgates, truck mounted forklifts, EPSILON timber & refuse loaders, service truck solutions and container handling solutions.
The main guiding principal of PALFINGER is to make our customers more successful with the help of our advanced machines, market experience, technical skills, committed employees and our passion for innovation. Always close to the customer, more than 800 sales and service centers are conveniently located across North America to provide PALFINGER users with the support and dedication that they deserve.
Marketing Lead - Area North America
PALFINGER NORTH AMERICA
7942 Dorchester Road | PO Box 846
Niagara Falls, ON | L2E 6V6 | Canada
T +1-905 374 3363 –279
TF +1-800 567 1554 –279
F +905 374 1203