EANS-Adhoc: PALFINGER intends to acquire one of the leading suppliers of maritime lifesaving equipment

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Mergers - Acquisitions - Takeovers
24.05.2016

Bergheim, 24 May 2016

The PALFINGER Group intends to acquire 100 per cent of the shares in
Herkules Harding Holding AS and thus, the globally operating Harding
Group. The seller is the Norwegian private equity fund Herkules.
Harding is one of the leading suppliers of lifesaving equipment and
lifecycle services for maritime installations and ships. Through this
acquisition, PALFINGER will add new products and an international
service network to its marine business.

This undertaking was adopted by the Supervisory Board and Management
Board of PALFINGER AG today. Subject to the positive outcome of the
due diligence audit and the final negotiations, the signing is
scheduled to take place in the coming weeks. The acquisition of
Harding by PALFINGER is contingent on the approval of the
authorities.

Harding is headquartered in Seimsfoss, Norway, and, with its
comprehensive service network, maintains operations in 16 countries
around the world. With a staff of approx. 800 employees, the company
recorded revenue of around EUR 140 million in 2015.

This would be the largest acquisition carried out in the history of
the PALFINGER Group. PALFINGER's marine business would almost double
its business volume and, with more than EUR 300 million, contribute
substantially more than 20 per cent to the Group's revenue in the
future. The service segment would gain in importance immensely. With
Harding, PALFINGER would come a huge step closer to its strategic aim
of becoming an integrated supplier of marine deck equipment with
global service locations.

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About PALFINGER AG For many years PALFINGER has been one of the
world's leading manufacturers of innovative lifting solutions for use
on commercial vehicles and in the maritime field. As a multinational
group headquartered in Salzburg, the Company, which has approx. 8,995
employees, generated total sales of approx. EUR 1,229.9 million in
2015.

The Group has production and assembly facilities in Europe, in North
and South America, as well as in Asia. The pillars of corporate
strategy comprise innovation and the further internationalization as
well as the growing flexibility of products, services and processes.
PALFINGER is regarded not only as the market leader, but also the
technology leader, in the global market for hydraulic loader cranes.
PALFINGER is always in proximity to its customers due to its over
5,000 sales and services centres located in over 130 countries across
all continents.

Further inquiry note:
Hannes Roither, PALFINGER AG
Konzernsprecher
Tel. +43 662 2281-81100
h.roither@palfinger.com

Text und entsprechendes Bildmaterial stehen auch im Newsroom unserer
Internetseite www.palfinger.ag zur Verfügung.

end of announcement euro adhoc
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issuer: Palfinger AG
Lamprechtshausener Bundesstraße 8
A-5020 Salzburg
phone: 0662/2281-81101
FAX: 0662/2281-81070
mail: ir@palfinger.com
WWW: www.palfinger.ag
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: Prime Market
stockmarkets: official market: Wien
language: English