Loader crane manufacturer Palfinger, based in Austria, will take over Omaha Standard Inc, a leading producer of truck bodies and pick-up tail lifts in the US.
The family-run company has an assembly plant, including a cathotic dip-coating KTL painting facility, in Council Bluffs, Iowa, as well as nine body workshops and dealers. It has a distribution network of about 400 centres.
"In the past few years Omaha Standard has heavily invested in the expansion of its production site which boasts a high-tech plant and efficient production processes. Its standards are truly on a par with those of Palfinger in every respect," said Christoph Kaml, Palfinger CFO and managing director of the North America segment.
"The ongoing financial and economic crisis in North America has prevented necessary capacity utilisation from being achieved thus far. For this reason both companies stand to profit from this acquisition. Omaha Standard ideally complements the previous operations of Palfinger in this market - in terms of both product portfolio and production and distribution capacities. As a result new distribution channels are now available to Omaha Standard, and there is of course more potential for utilisation of capacities," added Kaml.