EANS-News: Palfinger AG / Expansion in the Rhine-Ruhr Region CNE

Monday, 22. November 2021 15:00
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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Mergers - Acquisitions - Takeovers

Bergheim -
Zwtl.: PALFINGER signed the contract for the acquisition of TSK Kran und
Wechselsysteme GmbH and TSR Lacktechnik GmbH on November 19, 2021. Participation
in its long-standing partner in Duisburg strengthens the company's position in
northwestern Germany and in the "three country corner".

TSK Kran und Wechselsysteme GmbH has been an important and valuable partner in
the northwest of Germany for more than 20 years and holds a significant market
share in the Ruhr area. TSK enjoys an excellent reputation, especially in sales
and service. At the beginning of 2022, the world's leading manufacturer of
innovative crane and lifting solutions will take over the Duisburg-based
company.

Central Sales and Service Location
For PALFINGER, joining TSK means strengthening its presence in the German
market. For TSK, the takeover ensures its continued existence in full, with all
its employees. Following complete integration into the PALFINGER Group, the
Duisburg site will be expanded to become the central sales and service location
in the region. Matthias Köppen will manage the Duisburg subsidiary.

More Customer Proximity
"Participating in our long-standing partner is an important step towards
providing our customers in the Rhein-Ruhr region and "the three country corner"
with even more intensive and comprehensive support and emphasizes the importance
of the German market - in line with our brand promise: 'Creating value
together'," explains PALFINGER CEO Andreas Klauser.

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ABOUT PALFINGER AG
The international mechanical engineering firm of PALFINGER is the global leader
for innovative crane and lifting solutions. With more than 12,000 employees, 34
manufacturing sites and a worldwide network of dealerships and maintenance
centers at over 5,000 locations, PALFINGER is always close to the customer.

As the leader in its engineering field, the company aims to ensure its partners'
business success in the long term by providing solutions and products that
remain economically and ecologically viable in the future. Its broad product and
model portfolio allows PALFINGER to take digitalization and the deployment of
artificial intelligence to new levels.

As a global company with strong roots in its home region, PALFINGER is convinced
that thinking and acting in the interests of sustainability play a vital role in
successful business operations. This is why the company assumes social,
ecological and economic responsibility along the entire value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2020
achieved revenue of EUR 1.53 billion.

Further inquiry note:
Hannes Roither | Group spokesperson | PALFINGER AG 
M +43 664 2069247 | h.roither@palfinger.com

Texts and accompanying images are available in the "News” section of
www.palfinger.ag, www.palfinger.com.

end of announcement                         euro adhoc
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issuer:       Palfinger AG
              Lamprechtshausener Bundesstraße 8
              A-5020 Salzburg
phone:        0662/2281-81101
FAX:          0662/2281-81070
mail:         ir@palfinger.com
WWW:          www.palfinger.ag
ISIN:         AT0000758305
indexes:      
stockmarkets: Wien
language:     English

EAX0001    2021-11-22/15:00

Related Links: PALFINGER AG
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