Palfinger Group acquires Harding

The Palfinger Group has acquired 100% of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group. With this acquisition, Palfinger Marine completes its product range with lifeboats.

Karl Oberreiter, Managing Director of Palfinger Marine, commented: “In our product portfolio we were missing the lifeboats and were looking for improvements in our service network. In our business, the need for professional services and trainings will be a key success factor in the future. With Harding’s comprehensive service network maintaining operations in 18 countries, we massively extend our service performance to be even closer to the customer. Harding achieves around half of its revenue through lifecycle services.”

“Experiencing a certain dependency from the oil price drop, we are actively working on our strategy and taking other segment more into our focus. We profit from a strong offshore wind market, where we are one of the market leaders in nacelle, platform and substation cranes. Also the Navy and Coast Guard business is offering attractive opportunities and we are preparing our product and service portfolio to this very challenging business. Serving our customers with high class products and services from a single source will bring major advantages and reliability to shipyards, owners and operators alike,” highlighted Karl Oberreiter.

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/31052016/palfinger-group-acquires-harding-3412/