The MAN Group has sold its tower crane subsidiary, MAN Wolffkran, to a private group headed by investors from Germany and Switzerland. Dr Peter Schiefer and Dr Hans–Peter Koller head the group, which under the terms of the deal, took retroactive control of the company from January 1 this year.
No details of the price of the acquisition were available, but the new owners confirmed that, “All production sites are to be retained and no job cuts are planned.” The company will continue to operate as Wolffkran.
Schiefer will take a role in managing operations and said, “The long term perspective is for a long term commitment for the company. Wolffkran has the engineering competence and the distribution and service structures for independent growth activities. Beside the existing quality market leadership we are now targeting leading positions in all our markets.” Schiefer continued, “Together with our clients we will further develop the potential of new growth markets and innovative services.”
With the sale of the crane division, MAN will concentrate on its core truck and engine businesses.