Palfinger

Last updated

PALFINGER AG
Company type Stock Company
Industry Engineering
Founded1932
FounderRichard Palfinger
Headquarters Bergheim, Austria
Key people
  • Andreas Klauser (CEO)
  • Felix Strohbichler (CFO)
  • Alexander Susanek (COO)
  • Maria Koller (CHRO)
RevenueIncrease2.svg€2.45bn (2023) [1]
Number of employees
12,728 (2023) [1]
Website www.palfinger.com/en-us
Palfinger PK 1050 TEC crane PALFINGER-PK-1050-TEC.jpg
Palfinger PK 1050 TEC crane

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]

Contents

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

History

1930s to 1960s: Foundation and orientation

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

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

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

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

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

As of: January 2024 [57]
NameAnteil (in Prozent)
Palfinger family56.4
Palfinger AG7.5
Free float36.1

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

Palfinger AWP at Jakobskreuz PALFINGER AWP Jakobskreuz.jpg
Palfinger AWP at Jakobskreuz
Palfinger TMF FHS 55 forklift PALFINGER TMF FHS 55 NAM.jpg
Palfinger TMF FHS 55 forklift

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

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

Related Research Articles

Software AG is a German multinational software corporation that develops enterprise software for business process management, integration, and big data analytics. Founded in 1969, the company is headquartered in Darmstadt, Germany, and has offices worldwide.

Edel SE & Co. KGaA is a German independent media company based in Hamburg. As a label and publishing group, it also operates marketing and sales for artists and smaller music labels. The repertoire of the Edel labels includes dance, rock and pop music to classical music and a children's catalogue. In addition to the development and marketing of music, the group also deals with the production, logistics and distribution of CDs, DVDs, vinyl records, and books at the production site of the subsidiary optimal media GmbH in Röbel/Müritz as well as with services in the online and book business.

Basler Zeitung, or BaZ, is a Swiss German-language regional daily newspaper, published in Basel.

<i>Die Presse</i> Austrian daily broadsheet

Die Presse is a German-language daily broadsheet newspaper based in Vienna, Austria. It is considered a newspaper of record for Austria.

<i>Wiener Zeitung</i> Austrian newspaper (1703–present)

Wiener Zeitung is an Austrian newspaper. First published as the Wiennerisches Diarium in 1703, it is one of the oldest newspapers in the world. Until April 2023, it was the official gazette of the government of the Republic of Austria for legally-required announcements, such as company registrations and was also the official publishing body for laws and executive orders until 2004.

<span class="mw-page-title-main">KION Group</span> German materials handling equipment manufacturer

Kion Group AG is a German multinational manufacturer of materials handling equipment, with its headquarters in Frankfurt, Hesse, Germany. Its principal products are intralogistics, warehouse automation equipment, and industrial (forklift) trucks. Kion Group was founded in 2006 by the demerger of Linde's materials handling equipment operations. It is the world's second-largest manufacturer of forklifts measured by revenues.

Terex Corporation is an American company and worldwide manufacturer of lifting and material-handling equipment. Products include those that enable customers to reduce their impact on the environment including electric and hybrid offerings, deliver emission-free performance, support renewable energy, and aid in the recovery of reusable materials from waste. Terex does business in the Americas, Europe, Australia and Asia Pacific.

SensorDynamics was a European semiconductor and MEMS company specialized in developing and manufacturing high-volume micro- and wireless semiconductor sensor products for applications in automotive, industry and high-end consumer sectors. The company was acquired by Maxim Integrated in 2011 for $164 million. SensorDynamics developed and produced custom-made designs and standard components for use in vehicle stabilization, occupant protection, navigation systems, keyless go systems and autonomous energy generators for wireless and battery free controllers for industrial, automotive and high-end consumer application. With its headquarters in Graz, Austria, SensorDynamics had offices in Italy and Germany and a worldwide sales and distribution network. The company employed about 130 people in 2011.

Tadano Ltd. is the main and largest Japan-based manufacturer of cranes and aerial work platforms, considered one of largest crane manufacturers in the world.

<span class="mw-page-title-main">Erste Group</span> Austrian multi-national bank

Erste Group Bank AG is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven countries. Erste Group is headquartered in Vienna and operates as a universal bank.

Sany Heavy Industry Co., Ltd. is a Chinese multinational heavy equipment manufacturing company headquartered in Changsha, Hunan. It is the 3rd-largest heavy equipment manufacturer in the world, and the first in its industry in China to enter the FT Global 500 and the Forbes Global 2000 rankings. Its founder and main shareholder is Liang Wengen.

René Benko is a bankrupt Austrian real estate, media and retail investor, and was the founder of the Signa Holding. The company was considered Austria's largest privately held real estate conglomerate. Benko was considered one of the richest Austrians. Numerous controversies have surrounded Benko’s professional career. In March 2024 Benko declared personal insolvency.

The Salzburger Nachrichten is a German-language daily newspaper published in Salzburg, Austria. It has been in circulation since 1945.

Phoenix Mecano AG is a Swiss technology company headquartered in Stein am Rhein, operating internationally in the fields of enclosure technology and industrial components. The company manufactures technical enclosures, electronic components, actuators, and system integrations. Phoenix Mecano employs around 7,000 people and generated sales of €783.1 million in 2023. Founded in 1975, Phoenix Mecano has been listed on the SIX Swiss Exchange since 1988.

Outreach Offshore Ltd is a supplier of hydraulic cranes, lifting and access equipment. The company was founded in 1990 and its headquarters are in Falkirk, Scotland. Formerly a division of Outreach Ltd, Outreach Offshore continued after the formal disbanding of the parent company in May 2018.

<span class="mw-page-title-main">Andrea Klambauer</span> Austrian politician (born 1977)

Andrea Klambauer is an Austrian politician of NEOS – The New Austria who has served as minister in the Salzburg state government since 2018. She is also federal deputy leader and state spokeswoman for NEOS.

<span class="mw-page-title-main">Wintersteiger</span> Austrian company

Wintersteiger Holdig AG is an Austrian company based in Ried im Innkreis. The company is active in the development, production and distribution of machinery and equipment for seed cultivation, ski service, wood and metal industries.

The Trenkwalder Group AG is a full-service outsourcing human resources and personnel employment provider in CEE in 16 European countries. Trenkwalder expanded through numerous acquisitions in Austria and abroad and has more than 200 locations. The company is a market leader in Austria and Hungary. Since 2011, it has been part of the Droege Group.

Linda Natter is an Austrian football player who plays for FFC Vorderland.

References

  1. 1 2 3 "Key Figures of the Palfinger Group" (PDF). Annual Report: 3. 2023 – via Palfinger AG.
  2. 1 2 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. 1 2 "Palfinger ist Hersteller von hydraulischen Hebe- und Ladevorrichtungen". Kronen Zeitung . 1 July 2018.
  5. 1 2 "Palfinger: Erfolge in Europa, Russland, China". Die Presse . 1 February 2018.
  6. 1 2 Pleininger, Hans (16 May 2011): "Palfinger ist Salzburgs bestes Familienunternehmen". Wirtschaftsblatt .
  7. ↑ "Kräne für die ganze Welt". Die Presse . 30 April 2005.
  8. 1 2 "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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.