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Palfinger Holding AG

euro adhoc: Palfinger AG
Mergers - Acquisitions - Takeovers / Acquisition

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
14.06.2005
PRESS INFORMATION
PALFINGER acquires the UK market leader in commercial and passenger
tail lifts
·	100 percent acquisition of Ratcliff Tail Lifts Ltd.
·	PALFINGER becomes market leader in the largest European market for
commercial and passenger tail lifts
Bergheim/Salzburg, June 14th 2005
Subject to the regulatory approval by the Austrian antitrust
authority, PALFINGER AG, listed on the Vienna stock exchange is going
to fully acquire the UK based Ratcliff Tail Lifts Ltd, a subsidiary
of the Ratcliff Group Ltd. The company, which has a third of the UK
market, has 40 years of experience in the design and production of
lifts for the commercial and passenger markets.
The company employs over 200 staff and generates annual sales of
about EUR 30 million (approaching GBP 20 million). Its customer base
is predominantly made up of major fleets such as retailers,
logistics, distribution and service operations, rental companies and
community transport operators. "We are now the number one in Europe’s
biggest market for tail lifts", says PALFINGER CEO Wolfgang
Anzengruber.
With the acquisition of Ratcliff Tail Lifts Ltd. PALFINGER assumes
the market leadership position in the UK market and also broadens its
range with Ratcliff’s innovative and proven products. In addition,
the move will strengthen and support the pace of entry of PALFINGER’s
tail lift range in the UK.  PALFINGER and Ratcliff have been
co-operating in this area already for some time.
The two companies will be integrated as soon as possible, whilst
existing production, sales and service arrangements will remain
unchanged. Ratcliff Tail Lifts Ltd. will become a 100 percent
subsidiary of PALFINGER AG. Ratcliff will continue to exist as a
trade and company name. The existing management team of Ratcliff Tail
Lifts Ltd. will continue to run the business under the new ownership.
The business will retain a level of autonomy and independence,
enabling the local management to take all necessary steps to further
increase profitability. "We expect additional synergies especially in
the purchasing area, which will gradually have a positive effect on
operational and financial results", explains PALFINGER CMO Herbert
Ortner.
The UK is Europe’s biggest market for tail lifts with a volume of
about EUR 60 million (GBP 37.5 million). The three major markets for
tail lifts are the USA, United Kingdom and Continental Europe.  These
markets are characterised by wide differences in product preference,
operator practice, design opinion and build quality.
Since 2003/2004, the United Kingdom has been the biggest European
market. Steady growth in sales has been sustained while the market
has remained buoyant.  Importantly, the market in the UK has always
expressed an emphasis and preference for service quality and premium
branding. Future operating regulations and safety legislation are
also expected to increase demand in the replacement market and
encourage investment in higher specification equipment.
"With Ratcliff Tail Lifts Ltd. we have acquired a solid and
profitable base in the tail lifts business with a relatively low
operational risk", concludes Anzengruber.
The existing marketing, distribution and servicing arrangements for
cranes, hook-loaders, access platforms and forklifts are not affected
by this acquisition.
Text and related picture material are available for downloading from
the Press Corner on our website at www.palfinger.com. The PALFINGER
EXTRANET also provides a comprehensive picture and press release
database. You can register for this free service at
http://extranet.palfinger.com
end of announcement                    euro adhoc 14.06.2005 07:37:34 

Further inquiry note:

Hannes Roither, PALFINGER AG
Company Spokesman
Tel.: +43 662 46 84-2260
mailto:h.roither@palfinger.com
www.palfinger.com

Branche: Transport
ISIN: AT0000758305
WKN: 758305
Index: ATX Prime
Börsen: Wiener Börse AG / official dealing

Original-Content von: Palfinger Holding AG, übermittelt durch news aktuell

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