Palfinger expands with marine acquisition

The acquisition of Dreggen is subject to customary closing conditions including approval from the competition authorities in Norway. With high energy and oil prices encouraging investments, the integration of Dreggen will provide growth opportunities for the Palfinger Group in the marine industry and in particular, the offshore industry.

Herbert Ortner, CEO, Palfinger AG, said: ”The incorporation of this company into our group marks a milestone for our marine business. Our marine business has shown outstanding performance and has already become a highly profitable area of our company. With Dreggen we can now enter a new dimension that will not only bring about a great boost to growth but will also open up new opportunities and markets”.

Dreggen cranes will also expand Palfinger’s product portfolio for the offshore sector – adding jack-up rigs, FPSOs and drilling vessels.

Karl Oberreiter, head of Palfinger Marine, added: “The offshore sector requires cranes that have been adapted to the highly explosive environment. In future, these special requirements will be perfectly met by the new business unit offshore cranes.”

Palfinger is expected to acquire Dreggen by the end of November. Dreggen will operate under the name of Palfinger Dreggen.