PALFINGER MARINE takes over Norwegian Deck Machinery AS

• Manufacturer of special winches for the marine and offshore industry 
• Strategic addition to the marine product portfolio, with deck equipment for the shipping industry and the oil and gas industry

Salzburg, 14 January 2015

Today PALFINGER MARINE closed the takeover of 100 per cent of the shares in Norwegian Deck Machinery AS (NDM). In the past 25 years, NDM has achieved a prominent market position with the development of special winches as well as lifting and handling equipment for offshore vessels, offshore service vessels, and oil and gas rigs. The distinctive feature of the systems developed by NDM is the automatic compensation of wave movements, allowing for a safer and more efficient handling of loads.

NDM, a company with a lean corporate structure headquartered in Os, Norway, was established in 1989, and its operations encompass product development, project management and sales; production has been outsourced to external production service providers. NDM’s sales operations focus on major markets such as the USA, Brazil, Europe, the Middle East and China.

“This acquisition will not only expand our product range in the marine business, but also give us access to those customer groups which PALFINGER has so far not addressed. NDM is being managed by a highly entrepreneurial team and, as a member of our Group, will grow at a faster pace than before,” commented PALFINGER’s CEO Herbert Ortner on the latest acquisition made in the marine segment.

The Interim Report for The First Three Quarters of 2014 is available for download at
www.palfinger.ag/en/newsroom/financial-reports.