Palfinger AG, Salzburg, Austria, has completed acquisition of container handling systems producer Automated Waste Equipment Inc. (AWE). Headquartered in New Jersey, AWE is the second largest manufacturer of cable hoists in the United States. The acquisition furthers Palfinger’s growth pattern via expansion of its U.S. operations.
“For us, this acquisition is a further step in our strategy pursued in the U.S., namely to strengthen local production and gain additional market share,” said Herbert Ortner, Palfinger CEO. “It gives us access to a product range that is in line with the needs of American customers in this segment.” The acquisition of AWE makes Palfinger the number two in container handling systems in the US.
In contrast to hook lifts, customarily used in Europe, cable-hoist container handling systems use a cable system that moves the containers. AWE produces and distributes both systems, which makes it an excellent supplement to the technologically more advanced Palfinger PaLift portfolio, according to a Palfinger news release announcing the acquisition. Not only will Palfinger gain access to a customer base in various relevant industries, but its broad dealer network offers potential for AWE products, which now only have a limited geographical reach.
With a staff of almost 40, AWE generated revenues of approximately $13 million in 2008. The company is going to further increase Palfinger’s penetration of the U.S. market; the company acquired Omaha Standard, Inc. in Fall 2008.