The recent sale broadened Palfinger Marine\u2019s portfolio as Harding is a well-established supplier of lifeboats and associated equipment; having Harding under its belt, the group also gains important footholds in the offshore oil and gas, cruise, navy and coastguard segments. More, it will benefit from a string of global service locations. Servicing is a good proportion of Harding\u2019s offering, generating roughly half of its revenue (most recently recorded at EUR140m).<\/p>\n
However, all this takes place against the backdrop of a challenging economic situation: Mr Ortner underlined that Palfinger\u2019s strategic goal of supplying \u201cthe complete package\u201d of safety and marine deck equipment is completely consistent with survival. \u201cThe market is extremely fragmented,\u201d he said, and pointed out many equipment suppliers \u201care segment focused which means that they are very vulnerable to ups and downs\u201d. In other words, in these tough times, a wider base lends itself to greater stability.<\/p>\n
Styrk Bekkenes of Harding added: \u201cTo be a small supplier in this environment is tough, but to be bigger makes it easier.\u201d<\/p>\n
He said the benefits would also spread through the aftermarket: \u201cWe can come onboard with just one team to do the complete service so that reduces costs for the customer… and we can give a fixed price for the longer term.\u201d<\/p>\n
He went on to say: \u201cWith a broader range of equipment onboard, crew training will be easier… [and] it may be that product and safety training can be brought together.\u201d<\/p>\n
This latest acquisition is the largest in the history of the Palfinger Group. As a result of the takeover, Palfinger\u2019s marine side will almost double its business volume and is expected to generate revenue of over EUR300m, substantially more than 20% of the Group\u2019s total revenue.<\/p>\n
There will be more announcements, that is certain. Despite the recent failure of a recent bid for TTS Mr Ortner concluded \u201cit is a good time to carry out acquisitions\u201d and added: \u201cWe are in talks with other potential partners.\u201d<\/p>\n
By Stevie Knight<\/p>\n","protected":false},"excerpt":{"rendered":"
Palfinger recently announced its latest acquisition – Herkules Harding Holding AS – but according to Palfinger CEO Herbert Ortner, it won\u2019t be the last.<\/p>\n","protected":false},"author":8,"featured_media":3164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"sponsor":[],"class_list":["post-3163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accessories-equipment"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/posts\/3163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/comments?post=3163"}],"version-history":[{"count":1,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/posts\/3163\/revisions"}],"predecessor-version":[{"id":3165,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/posts\/3163\/revisions\/3165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/media\/3164"}],"wp:attachment":[{"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/media?parent=3163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/categories?post=3163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/tags?post=3163"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.maritimejournal.com\/get-set-for-workboat-2050\/wp-json\/wp\/v2\/sponsor?post=3163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}