Hiab, part of Cargotec, completed the acquisition of knuckle-boom crane manufacturer Effer S.p.A. from CTE Group.
The acquisition was announced on July 31.
Effer, headquartered in Minerbio, Italy, has approximately 400 employees, is a renowned premium knuckle-boom crane manufacturer. Its product range includes truck loader cranes, special application truck cranes, and marine cranes, particularly known for heavy cranes greater than 100 tm capacity. Distribution is managed through a network of more than 100 dealers covering around 60 countries globally.
The addition of Effer will enhance Hiab’s total cranes portfolio and provide increased coverage from widely complementary sales and distribution networks.
Effer will continue to operate under its brand and identity, and through its established dealer and distribution partner network. Effer will be part of Hiab's global cranes organization, with Lorenzo Cipriani continuing as managing director of Effer, reporting to Joakim Andersson, senior vice president of cranes for Hiab.
"I am incredibly proud today to welcome Effer and its employees as part of the Hiab family,” Andersson said. “Bringing our two proud histories, strong brands, and unique competence together will make Hiab and Effer stronger and able to even better serve our customers.”
Scott Phillips, the new president of Hiab, adds: "It is in both of our companies' DNA to innovate and now to truly lead this industry. I have no doubt, that combining our strengths will soon create tangible value to customers, partners, our people, and combined business."
The financial results of Effer S.p.A. will be consolidated in Hiab business area financials as part of Cargotec from November 2018.
passionately for Hiab to be the number one partner and preferred load handling solution provider to its customers. As the industry pioneer and with a proud 75 year history, Hiab is committed to inspire and shape the future of intelligent load handling.
For more information, visit www.hiab.com.
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