Palfinger and SANY are further developing their partnership agreement

A new move between Palfinger and SANY will see the two firms further developing their strategic partnership. The agreement has been made in principle to expand the strategic partnership between the Austrian and Chinese companies. The firms now intend to buy a 10% stake in each other. The link between the two groups will likely be reflected in the supervisory boards of both organisations. Now that an agreement in principle has been reached, the final contracts will be drafted in the weeks to come. The implem

September 30, 2013 Read time: 1 min

A new move between 5050 Palfinger and 1170 Sany will see the two firms further developing their strategic partnership. The agreement has been made in principle to expand the strategic partnership between the Austrian and Chinese companies. The firms now intend to buy a 10% stake in each other. The link between the two groups will likely be reflected in the supervisory boards of both organisations. Now that an agreement in principle has been reached, the final contracts will be drafted in the weeks to come. The implementation of the transaction will thereafter be subject to Chinese regulatory approvals and approvals by the supervisory board of Palfinger and the board of SANY Heavy Industries, as well as to the positive conclusion of a court-appointed contribution-in-kind-auditor assessing the interest to be acquired by Palfinger.

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Palfinger achieves record revenue and signs milestone Sany Group deal in 2012

Palfinger achieved record revenues in 2012 of US$1.251 billion (€935.2 million) – a year-on-year rise of 10.6%. The Austrian manufacturer of cranes, hydraulic lifts, loading and handling systems says the increase was mainly due to strong trade in North America, South America, CIS and the global marine business sector, as well as the continuation of a consistent internationalisation policy pursued in recent years. A further positive trend was said to be observed in other non-European regions. Meanwhile, in E

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