Palfinger Closes Acquisition of Russian Inman
The Austrian crane producer completed the takeover of its Russian competitor. The deal is regarded as an important step in the company’s growth strategy in the CIS area.
Palfinger Closes Acquisition of Russian Inman / Picture: © Palfinger
After obtaining the approval of the Federal Antimonopoly Service of the Russian Federation (FAS) the Palfinger Group closed the complete takeover of Russian crane producer Inman (Ischimbajskie Neftianiye Manipuliatory). Inman is a major supplier to the Russian market and operates two production facilities.
In addition, the company with its headquarters in Ishimbay in the Republic of Bashkortostan (Volga region) offers services from the complete certification for the Russian market up to technical maintenance and spare parts. Primarily Inman is a supplier to companies in the oil and gas industry as well as state-owned enterprises and, with its staff of 415, is expected to generate revenue of approximately € 20m in 2011.
For Palfinger this acquisition is an important strategic step for the further development of the CIS area. The Russian sales organization, set up in the past two years, already comprises a total of 50 dealers on both sides of the Ural. Through the acquisition of Inman the Group got locally recognized products, added value, and additional distribution channels. The company will be consolidated effective 1 September 2011.