# Palfinger

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The **Palfinger AG** (stylized as PALFINGER AG), headquartered in [Bergheim, Austria](/source/Bergheim,_Austria), is a publicly traded technology and machinery manufacturing company for hydraulic crane and lifting equipment for the land and maritime sectors. The company, founded in 1932, is known for its truck-mounted loader cranes.[2][3]

With over 100 models of this product, Palfinger is considered a global market leader.[4][5]

## History

### 1930s to 1960s: Foundation and orientation

The history of Palfinger dates back to 1932, with the founding of a repair shop for agricultural trailers, tippers, and vehicle bodies by Richard Palfinger.[6][7] The company built its first crane in 1959, and when Richard's son Hubert took over management in 1964, production was switched to hydraulic loader cranes.[6][8]

### 1970s to 2000s: Internationalization and expansion

In the following years, the focus was on expanding the product range and internationalizing the company. In 1984, the company opened an assembly and manufacturing plant in [Lengau](/source/Lengau) with 90 employees.[9] By 1989, Palfinger had expanded into over 70 countries and achieved an export rate of over 90%. In 1993, a plant was acquired in [Maribor](/source/Maribor), [Slovenia](/source/Slovenia).[10] Additionally, Palfinger opened a plant for the production of skip loaders in [France](/source/France).[11] To further expand its business in the U.S. market, Palfinger acquired the American crane dealer Tiffin Loader Cranes and established Palfinger USA Inc.[12] Furthermore, in 2001, the company acquired a partner in the South American market by acquiring the Brazilian company Madal.[13]

The company went public in June 1999.[14] In 2004, Palfinger acquired Bison Deutschland, a provider of truck-mounted [aerial work platforms](/source/Aerial_work_platform).[15] A year later, the company acquired the British producer of [tail lifts](/source/Tail_lift) and entry systems, Ratcliff Tail Lifts.[16] In 2005, the company opened an Asia headquarter in [Singapore](/source/Singapore) along with other locations in Asia.[17] Additionally, Palfinger invested in its existing production sites in [Bulgaria](/source/Bulgaria), Slovenia, [Eastern Germany](/source/New_states_of_Germany), and the USA.[18]

In 2008, Palfinger acquired the American company Omaha Standard in [Iowa](/source/Iowa), which manufactures truck bodies and liftgates for pickups.[19] Additionally, they acquired the aerial work platform division of the German company Wumag.[20] In 2009, Palfinger purchased the container handling system manufacturer Automated Waste Equipment (AWE) in [New Jersey](/source/New_Jersey),[21] as well as acquiring an 80% stake in the aerial work platform manufacturer Eti Inc. in [Oklahoma](/source/Oklahoma).[22] The following year, Palfinger entered the marine crane market through the acquisition of 75% of the Dutch company Ned-Deck Marine.[23]

### 2010s: Growth through collaborations

In 2010, Palfinger acquired the marine and wind crane division of Palfinger Systems.[24] In 2012, a collaboration with the Chinese construction machinery manufacturer [Sany Heavy Industries](/source/Sany) (Sany) began, resulting in the construction of a plant in [Changsha](/source/Changsha).[25][26] That same year, Palfinger acquired the Brazilian metal component producer Tercek[27] and the Norwegian Bergen Group Dreggen AS, which produces marine and offshore cranes.[28][29] In 2013, Palfinger, together with the company Sky Aces Srl., founded Palfinger Platforms Italy, which is active in the development, production, and sale of aerial work platforms.[30][31] At that time, the company operated over 29 facilities in 18 countries.[32] Additionally, Sany acquired 10% of the shares in Palfinger, while Palfinger acquired 10% of the shares in Sany Lifting Ltd.[33]

In 2015, the new company headquarters in Bergheim was opened,[34] accompanied by investments ranging from €3 million to €6 million in expanding the production site in [Löbau](/source/L%C3%B6bau).[35] The following year, Palfinger acquired the Norwegian Harding Group, which almost doubled its business in the marine sector.[36][37] In the fiscal year 2016, Palfinger achieved a revenue of €1.36 billion. Furthermore, Sany reduced its stake to 7.5%.[38]

In June 2018, Andreas Klauser took over as the [CEO](/source/Chief_executive_officer).[39]

### 2020s: Expansion of Locations and Sales

In 2020, Palfinger acquired its second-largest independent distributor worldwide, Hinz Försäljnings, based in [Sweden](/source/Sweden),[40] and the following year took over the Spanish distributor Equipdraulic.[41] The cross-shareholding with the Sany Group of 7.5% was dissolved by the end of 2021.[42] Furthermore, Palfinger began expanding the technology center in [Köstendorf](/source/K%C3%B6stendorf) with investments totaling €5 million.[43] In the same year, Palfinger acquired the companies TSK Kran und Wechselsysteme GmbH and TSR Lacktechnik.[44] Additionally, they acquired the rights to the Offshore Passenger Transfer System (OPTS) technology from Lift2Work B.V.[45] In the fiscal year 2023, the company surpassed the revenue threshold of €2 billion for the first time.[46]

In 2022, Palfinger opened a new location in Vienna called The Hub Vienna[47] and relocated the truck-mounted aerial work platform production from [Krefeld](/source/Krefeld) to Löbau.[48] The company also opened the Palfinger Campus as a training and education center and Palfinger World at its site in Lengau.[49][50] In June 2023, Palfinger established a central hub for its activities in the USA in [Schaumburg](/source/Schaumburg,_Illinois), [Illinois](/source/Illinois).[51] In 2023, Palfinger signed a ten-year contract with the Norwegian oil exploration and development company [Aker BP](/source/Aker_BP) for the development and market introduction of remote-controlled offshore cranes. In implementing this project, Palfinger is collaborating with the software developer Optilift.[52][53]

## Corporate structure

Palfinger achieved a revenue of €2.45 billion in the fiscal year 2023 with 12,728 employees.[1] For the fiscal year 2023, the company generated 59.9% of its revenue in the [EMEA](/source/Europe,_the_Middle_East_and_Africa) region. [North America](/source/North_America) accounted for 24.7% of the revenue.[54] The company has production and sales locations in [Europe](/source/Europe), North and [South America](/source/South_America), as well as [Asia](/source/Asia). Palfinger has more than 5,000 sales and service points in more than 130 countries.[55] The Palfinger family directly or indirectly holds 56.4% of the company's shares, making them the main shareholder.[56]

### Ownership structure

As of: January 2024[57] Name Anteil (in Prozent) Palfinger family 56.4 Palfinger AG 7.5 Free float 36.1

Since June 1999 Palfinger has been listed on the official market of the [Vienna Stock Exchange](/source/Wiener_B%C3%B6rse).[58] The shares of Palfinger AG have also been traded on the [OTC](/source/Over-the-counter_(finance)) market of the [Stuttgart](/source/B%C3%B6rse_Stuttgart), [Berlin](/source/B%C3%B6rse_Berlin), Düsseldorf, and [Frankfurt stock exchanges](/source/Frankfurt_Stock_Exchange) since mid-June 2000.[59]

## Products

The main product of Palfinger AG is the loader crane, Palfinger has over 100 models of this product and is the world market leader in this field.[5][8][60][4] The company manufactures access platforms, truck-mounted forklifts, loader cranes, timber and recycling cranes, marine cranes, wind cranes, hooklifts, and railway systems.[2]

Palfinger produces a number of different types of lifting technologies for specialized and more general applications:[61]

- Loader cranes
- Timber and recycling cranes
- Access platforms
- Hooklifts and skip loaders
- Railway systems
- Tail lifts
- Passenger boarding systems
- Truck mounted forklift
- Crawler cranes
- Factory mounting
- Boats and [davit](/source/Davit) systems
- Wind cranes
- Marine and offshore cranes

Additionally, for the North American market, Palfinger also offers specific products such as Truck mounted forklifts.[62]

## References

1. ["Key Figures of the Palfinger Group"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. Feiertag, Gabriel (2023-06-26). ["Palfinger – Weltmarktführer für Ladekräne und hydraulische Systeme \[Porträt\]"](https://www.trend.at/unternehmensprofile/palfinger#kernprodukte-der-palfinger-ag). *[Trend](/source/Trend_(magazine))*. Retrieved 2024-07-17.

1. ["Palfinger AG (PFI.F)"](https://de.finance.yahoo.com/quote/PFI.F/profile/). *Yahoo! Finanzen*. Retrieved 2024-07-17.

1. "Palfinger ist Hersteller von hydraulischen Hebe- und Ladevorrichtungen". *[Kronen Zeitung](/source/Kronen_Zeitung)*. 1 July 2018.

1. "Palfinger: Erfolge in Europa, Russland, China". *[Die Presse](/source/Die_Presse)*. 1 February 2018.

1. Pleininger, Hans (16 May 2011): "Palfinger ist Salzburgs bestes Familienunternehmen". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. "Kräne für die ganze Welt". *[Die Presse](/source/Die_Presse)*. 30 April 2005.

1. "Österreichs Exporteure stellen sich dem Wettbewerb". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*. 1 July 2015.

1. "Ein Ort mit Hebelwirkung". *[Kronen Zeitung](/source/Kronen_Zeitung)*. 1 August 2021.

1. "Der globalisierte Kran". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 4 February 2005.

1. Berger, Sabine (23 April 2007): "Frankreich ist wichtiger Markt mit Eigenheiten". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. "Palfinger kauft US-Kranhändler". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 16 January 2001.

1. "Aufstieg zum Global Player". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 6 June 2002.

1. "Wie Kräne in den Himmel wachsen". *[Die Presse](/source/Die_Presse)*. 11 March 2006.

1. "Palfinger-Kräne bald in Asien montiert". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 17 March 2005.

1. "Palfinger will in England hoch hinaus". *[Kurier](/source/Kurier)*. 15 June 2005.

1. Mayr, Michael J. (8 November 2005): "Palfinger setzt am Asien-Markt kräftig die Hebel an". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. Mayr, Michael J. (26 January 2007): "Palfinger stockt heuer an neun Standorten auf". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. "Palfinger kauft US-Spezialfirma Omaha". *[Börsen-Zeitung](/source/B%C3%B6rsen-Zeitung)*. 26 September 2008.

1. "Palfinger nutzt die Krise zur Expansion". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 26 February 2009.

1. "Salzburger Betriebe kaufen in den USA zu". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*.10 July 2009.

1. "Palfinger will nach Akquisition in den USA Zukauf im Osten heben". *[Der Standard](/source/Der_Standard)*. 30 March 2010.

1. "Palfinger kauft groß in den Niederlanden zu". *[Die Presse](/source/Die_Presse)*. 12. August 2010.

1. "In Kürze – Palfinger vervollständigt die Sparte der Marinekräne". *[Die Presse](/source/Die_Presse)*. 29 October 2010.

1. Paravicini, Stefan (1 March 2012): "Wir wollen China zu unserem zweiten Heimatmarkt machen". *[Börsen-Zeitung](/source/B%C3%B6rsen-Zeitung)*.

1. "Palfinger baut auf China". *[Kurier](/source/Kurier)*. 29 February 2012.

1. "Palfinger kauft in Brasilien ein". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 21 September 2012.

1. "Kranhersteller Palfinger expandiert auf hoher See".*[Kronen Zeitung](/source/Kronen_Zeitung)*. 31 October 2012.

1. Bruckberger, Hans-Jörg (6 November 2012): "Palfinger: Ein Marine-Zukauf macht noch keinen sicheren Hafen". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. Exner, Andre (20 February 2013): "Palfinger baut in Italien Hubarbeitsbühnen". *[Wirtschaftsblatt](/source/WirtschaftsBlatt)*.

1. ["Palfinger gründet Joint Venture für Hubarbeitsbühnen in Italien"](https://www.windkraft-journal.de/2013/02/19/palfinger-gruendet-joint-venture-fuer-hubarbeitsbuehnen-in-italien/36555) [Palfinger founds Joint Venture for Aerial work platforms in Italy] (in German). *Windkraft-Journal*. 2018-04-19. Retrieved 2024-07-16.

1. "Palfinger zieht es in entfernte Regionen". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 9 August 2013.

1. "Chinesen steigen bei Palfinger ein". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 1 October 2013.

1. Veigl, Stefan (26 September 2015): "Familie investiert 25 Millionen in neue Zentrale". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*.

1. Brestrich, Carina (2 February 2015.): "Hebebühnen-Spezialist wächst über sich hinaus". *[Sächsische Zeitung](/source/S%C3%A4chsische_Zeitung)*.

1. "Palfinger wird maritimer". *[Börsen-Zeitung](/source/B%C3%B6rsen-Zeitung)*. 31 May 2016.

1. "Palfinger wird zu großem Schiffsausrüster". *[Wiener Zeitung](/source/Wiener_Zeitung)*. 19 July 2016.

1. "1500". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 9 November 2017.

1. ["Andreas Klauser soll neuer CEO werden"](https://www.eilbote-online.com/artikel/palfinger-andreas-klauser-soll-neuer-ceo-werden-32778). *Eilbote Online*. 2018-04-19. Retrieved 2024-07-17.

1. "Palfinger expandiert weiter". *[Kronen Zeitung](/source/Kronen_Zeitung)*. 6 December 2020.

1. "Palfinger übernimmt spanischen Partner". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 11 February 2021.

1. "Palfinger und Sany lösen ihre Kreuzbeteiligung". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 16 December 2021.

1. "Investitionen in die Zukunft". *[Kurier](/source/Kurier)*. 21 May 2021.

1. "Palfinger übernimmt Partner TSK". *[Neues Volksblatt](/source/Neues_Volksblatt)*. 23 November 2021.

1. "Palfinger baut Marinegeschäft aus". *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. 6 October 2021.

1. ["Palfinger verzeichnet Rekordjahr mit erstmals mehr als 2 Milliarden Euro Umsatz"](https://www.wirtschaftszeit.at/news/palfinger-verzeichnet-rekordjahr-mit-erstmals-mehr-als-2-milliarden-euro-umsatz/). *Wirtschaftszeit*. 2023-02-23. Retrieved 2024-07-16.

1. "Ein Standort für die Zukunft". *Medianet*. 2 December 2022.

1. van Appeldorn, Markus (2023-06-29). ["Löbau wird wichtigster deutscher Produktionsstandort von Palfinger"](https://www.saechsische.de/loebau/wirtschaft/palfinger-loebau-erweiterung-produktion-grossbuehnen-5877322-plus.html). *[Sächsische Zeitung](/source/S%C3%A4chsische_Zeitung)*. Retrieved 2024-07-17.

1. ["Palfinger verspricht Ausbildung auf höchstem Niveau: Neuer Campus eröffnet"](https://allgemeinebauzeitung.de/abz/palfinger-verspricht-ausbildung-auf-hoechstem-niveau-neuer-campus-eroeffnet-50808). *Allgemeine Bauzeitung*. 2023-06-17. Retrieved 2024-07-17.

1. Fink, Georg (2023-05-10). ["Palfinger-Campus in Lengau setzt Impuls für die Ausbildung"](https://www.sn.at/salzburg/chronik/palfinger-campus-in-lengau-setzt-impuls-fuer-die-ausbildung-138480160). *[Salzburger Nachrichten](/source/Salzburger_Nachrichten)*. Retrieved 2024-07-17.

1. Klug, Melanie (2023-07-28). ["Palfinger: Nordamerika als Wachstumstreiber"](https://www.diepresse.com/13463992/palfinger-nordamerika-als-wachstumstreiber). *[Die Presse](/source/Die_Presse)*. Retrieved 2024-07-17.

1. ["Palfinger erzielt 2023 historisches Rekordjahr"](https://www.boerse-am-sonntag.de/unternehmen/unternehmens-news/palfinger-erzielt-2023-historisches-rekordjahr). *Börse am Sonntag*. 2024-03-07. Retrieved 2024-07-17.

1. Hasenauer, Emanuel (2022-04-12). ["Ferngesteuerte Krane für Norwegens Offshore-Plattformen"](https://www.meinbezirk.at/flachgau/c-wirtschaft/ferngesteuerte-krane-fuer-norwegens-offshore-plattformen_a5274874). *MeinBezirk.at*. Retrieved 2024-07-17.

1. ["Result of Operations"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. ["Palfinger at a Glance: The Palfinger Group"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. ["Declaration Pursuant to Section 243C and Section 267B of the Austrian Business Code"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. ["Ownership structure"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. ["Börsengeschichte 4.6.:Palfinger, Wien"](https://boerse-social.com/2024/06/04/borsegeschicht_46_palfinger_wien_borse_geschichte_borsegeschichte). 2024-06-04. Retrieved 2024-07-17.

1. ["About Palfinger"](http://conference2012.ewmd.org/pdf/EWMD_Palfinger_Austria_Company.pdf). *European Women's Management Development International Network*. 2012. Retrieved 2024-07-17.

1. "Wie man schnell einen Kran faltet". *[Der Standard](/source/Der_Standard)*. 9 March 2016.

1. ["Product Solutions"](https://assets.palfinger.com/cache-buster-1710152718/i-report-media/2023/Downloads/PALFINGER_GB2023_EN_open.pdf). *Annual Report*. 2023. – via Palfinger AG.

1. ["Steyr Automotive angelt sich Großauftrag der Palfinger AG"](https://volksblatt.at/wirtschaft/steyr-automotive-angelt-sich-grossauftrag-der-palfinger-ag-764669/). *Österreichisches Volksblatt*. 2023-03-08. Retrieved 2024-07-17.

## External links

- [Palfinger Website](https://www.palfinger.ag/en)

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Adapted from the Wikipedia article [Palfinger](https://en.wikipedia.org/wiki/Palfinger) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Palfinger?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.