Palfinger Dreggen looks to Asia

MCT Eng’s marine and offshore assets will be fully integrated into the business unit offshore cranes under the name Palfinger Dreggen Korea Ltd.

With this acquisition, the company says it will be able to serve the “dynamic” Asian market from a single source and strengthen its Palfinger Dreggen brand as an offshore expert.

Herbert Ortner, CEO, Palfinger AG, said: “With the acquisition of Dreggen in the fourth quarter of 2012, we took a significant growth step for our marine business area. Together, we managed to obtain the largest order in the history of Palfinger in early 2013.”

“It comprises two orders with a total value of approximately €90m. The agreed takeover of this part of MCT Eng’s business will provide a valuable foundation for the continued growth of our Marine business area,” he added.

This acquisition follows Palfinger Marine’s takeover of Norwegian offshore crane manufacturer, Dreggen, last year.

MCT Eng is based in Sacheon, South Korea, and has been a partner and subcontractor for Palfinger Dreggen for over 10 years. The company produces a range of marine and offshore cranes, handling cranes and special custom cranes for the Asian market.