30.10.2012

Palfinger to acquire Bergen Group Dreggen

Palfinger is to acquire Norwegian marine, offshore crane and lifting equipment manufacturer Bergen Group Dreggen.

The transaction – which is subject to certain conditions including approval from the competition authorities in Norway – is expected to be completed by the end of November and will considerably expand Palfinger Marine’s product range.

Bergen Group Dreggen - headquartered in Bergen, Norway - has 25 years of experience in the marine and offshore crane sector. An independent division of the company, specialises in tailor-made crane solutions for the shipbuilding, oil and gas industries.

With sales offices in Brazil and Singapore and a global sales and services network Dreggen is well-positioned for further growth. In 2011, the company’s 75 employees and had revenues of around €30 million.

Herbert Ortner, chief executive officer of Palfinger AG said: “Dreggen is well-positioned and shares Palfinger’s high quality demands. The incorporation of this company into our Group marks a milestone for our marine business. Excellent growth opportunities are expected in the marine sector and in particular, the offshore sector. Offshore fleets for drilling platforms and their supply as well as commercial fleets have recorded unrestricted growth in recent years and, in addition, high energy and oil prices have encouraged further investments in exploration and production.”

The acquisition is an important growth step for Palfinger’s marine business. The Dreggen cranes will expand the product portfolio for the offshore sector considerably adding jack-up rigs, FPSOs and drilling vessels.

“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’,” says Karl Oberreiter, head of Palfinger Marine.

In future, Dreggen will operate under the name of Palfinger Dreggen.
“Palfinger Marine has shown outstanding performance and has already become a highly profitable area of our company,” said Ortner. “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.”