11.12.2018

Zoomlion acquires Wilbert

Chinese crane manufacturer Zoomlion has confirmed the acquisition of German tower crane company Wilbert Turmkrane. The deal to acquire 100 percent of the German company's equity was signed on November 27th.

Wilbert is based in Waldlaubersheim, to the west of Frankfurt, Germany, where it has a production facility, offices and warehousing and a large rental yard totalling around 50,000 square metres on a 47 acre site, with the outside space used for storage and testing. The company built its name in the German tower crane rental market in a long term partnership with Wolffkran, but began manufacturing its own flat top and luffing jib tower cranes in 2004, bringing its relationship with Wolffkran to an end. It currently employs 132 and was saved from administration in 2014 by Chinese automotive product manufacturer Nanyang Guoyo. Zoomlion says that Wilbert will maintain both the manufacturing and rental of tower cranes and will focus on higher quality cranes for western markets.
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The official ceremony confirming the acquistion

A statement from Zoomlion said: "This deal will enable a strong alliance between the two parties. Zoomlion will rapidly realise self improvement by learning from the experience and technology of the top international brand, and fill the gaps in the high end markets in Europe and the USA, relying on tremendous business resources of Wilbert. While, Wilbert can quickly promote its sales and market share with Zoomlion’s extensive marketing network and advantages in capital. Wilbert products have great potential in not only Europe and America but also the Chinese high end market. The two giants will also coordinate their supply chains and utilise the resources of the other for lower purchasing costs and achieve mutual development."

Wilbert added: “Zoomlion is one of the largest manufacturers of construction machinery in China and is looking for access to the European market. We hope to advance the targeted expansion of the capital intensive core business in Germany and internationally.”

Vertikal Comment

This is an interesting move by Zoomlion, which now claims to be China’s largest tower crane manufacturer. How well it will do with Wilbert remains to be seen. Zoomlion acquired the Jost flat top tower crane deigns in 2011, but in the seven years since does not appear to have gained a great deal from that outside of China.

While it boasts of its ‘extensive marketing network’ this does not amount to a great deal in markets where Wilbert’s German built cranes are most likely to sell. Wilbert builds a nice crane, of that there is no question, but in the 14 years since it began building its own cranes it has distinctly failed to make a significant impact and has suffered from a lack of strategic direction, not to mention capital. That may well change under new ownership – but do not hold your breath.