Palfinger Expands Its Business through Two Acquisitions

first_imgPalfinger, November 28, 2013 此页面无法正确加载 Google 地图。您是否拥有此网站?确定 Print  Close My location zoom The PALFINGER Group finalized the contracts for two acquisitions. The majority takeovers of Palfinger systems GmbH and the Megarme Group will expand PALFINGER’s portfolio for the shipping and offshore industries as the Group will henceforth provide access and working systems meeting the special demands of these sectors. Moreover, through Megarme, PALFINGER will acquire its first value creation structures in the Arab region, which is a core market for these industries.Both companies being acquired offer special systems for accessing and performing repair and maintenance work on ships and oil rigs, including interior and exterior cleaning, rust and paint removal, recoating, inspection and repairs.With a staff of approx. 50, Palfinger systems GmbH develops and produces innovative technologies in engineering and processing as well as tailor-made customer and project solutions. The advantage of these solutions is that they make work processes faster, more efficient, safer and more environmentally friendly than conventional methods. Very recently, in mid-November, a Singapore company placed a major contract for a volume of approx. EUR 10 million with Palfinger systems GmbH.“The solutions have now reached a degree of maturity that makes them an extremely interesting addition to our portfolio. As innovation leader, we will thus consolidate our presence in the marine sector,” explains Herbert Ortner, CEO of PALFINGER AG. “At the same time, Palfinger systems now needs capacities and structures for production and services in order to be able to exploit the additional potential. We have all this available the world over.”Palfinger systems, which is headquartered in Salzburg, Austria, and operates a manufacturing and assembly plant in Weng im Gesäuse (Austrian province of Styria), has so far been owned by the Palfinger family. Now the PALFINGER Group is acquiring 85 percent of the company, which generated revenue of approx. EUR 1 million in 2012, for a symbolic purchase price of EUR 1. The company’s disproportional dividend arrangement will remain in force until 2025.The Megarme Group, composed of three companies in Dubai, Abu Dhabi and Qatar, specializes in the service business and provides rope access technologies applied by rope access professionals. With approx. 500 employees, the company currently generates annual revenue of EUR 15 million. After the closing, PALFINGER will take over full operational and entrepreneurial control over the highly profitable business of Megarme.Rope access professionals are specially trained technicians primarily assigned to particularly difficult tasks. In combination with the products of Palfinger systems, PALFINGER will provide not only innovative special access products but also the required highly qualified service personnel, making the newly available solutions an interesting alternative to the comparatively expensive and time-consuming scaffolding.The takeover of Megarme also marks another step in the internationalization of the PALFINGER Group, which until now has had no value-creation structures in the Arab countries. Given the strong presence of the shipping industry in this region, it is a particularly important one for the marine business. The Group will also benefit from Megarme’s longstanding knowledge of this market.last_img read more

Read More »

Norddeutsche affinerie hits out on energy costs

first_imgIn a hard hitting press release, Norddeutsche Affinerie says the dramatic rise in electricity prices compels it to reconsider the future viability of its energy-intensive production sectors. “The possibility of closing down particularly energy-intensive sectors, such as the secondary smelter (RWN) in Hamburg, until such time as the company’s own SF power plant is commissioned in 2009, is being considered in order to protect the company from considerable damage. Up to four hundred NA employees could be affected.” NA says the key to avoiding this is to be found in German energy policy and the four German energy suppliers. “The four energy suppliers operating in Germany use their market-dominant position to the detriment of the German base industry and the whole of German trade and industry. As a result, the electricity costs for NA as an energy-intensive company with a requirement of 650 million KWh/y have doubled over the past three years. If NA buys its electricity at the current price level on the Leipzig electricity exchange EEX, it would have to absorb an additional annual financial burden of millions of Euros.”NA says it does not “understand Vattenfall Europe’s comments that electricity could have been bought at a more favourable price at an earlier time. This statement can only come from someone who is aware in advance of constantly rising market prices and assumes that the market will not function anyway. Even at the time prices were at their lowest this year, the EEX price was far higher than the actual production costs with completely unjustified pricing of CO2 licenses which were allocated free of charge. The pricing of the CO2 licenses created a windfall profit for the four energy suppliers of €5.3 billion.” “In order that NA can in future maintain its competitiveness worldwide, and to secure the Hamburg operations long-term, we must save costs until such time as they are reduced by the power plant we are planning”, said NA’s Chief Executive Officer, Werner Marnette. “We are counting on the full support of the Hamburg Senate for the erection of the substitute fuel power plant, so that we should have no delay in realising this project which is crucial for NA.” The SF power plant which is planned for the long-term will make NA independent of the electricity price tariffs of the four energy suppliers. For NA, as Europe’s largest copper producer, it is the basis of the company’s long-term electricity supply at fair prices. “We are doing everything in our power to safeguard the jobs in the recycling sector in Hamburg. Due to the good economic situation, I am optimistic that redundancies can be avoided if the power plant is commissioned in good time”, said Marnette. “For German citizens and German trade and industry, I hope that the politicians will ensure that the suppliers’ market-dominant behaviour will be effectively countered. Because in Germany not only NA’s jobs are at risk, but more than 660,000 jobs in energy-intensive enterprises.last_img read more

Read More »