Palfinger JV starts in India

Star Palfinger is a new joint venture in India to distribute and service Palfinger loader cranes and hook loaders. Partnering Austria-based Palfinger is Western Auto LLC, part of the UAE-based ETA Star Group. It will hold the majority share of 74%, while Palfinger Asia Pacific Pte will own the balance.

“We are delighted to partner with the world leaders in truck mounted knuckle boom cranes – Palfinger. We believe the highly flexible truck mounted crane models from Palfinger will be a huge success in the Indian construction and transportation industry. The Palfinger range offers better flexibility in deployment and also higher return on investment with cost savings on capital expenditure and maintenance,” said A.J. Kamal, Western Auto LLC director.

Wolfgang Anzengruber, Palfinger CEO, commented, “We see enormous market potential here. Therefore, it is important to be present from the beginning and to participate in the development of the market. For the Palfinger Group this is an essential investment in the future.”

In the coming years, the company said it will look at the emerging replacement market for pick and carry cranes, adding that the market is forecast to rise from 80 units in 2006 to about 1,100 units by 2015.

Leading knuckle boom crane manufacturer Palfinger operates 16 factories worldwide. It has a subsidiary in Asia since 2006, headquartered in Singapore, plus an assembly plant for container handling systems in Shenzhen, China. The company recorded a 38% sales increase in the Asian market in the first half of 2007 and is looking at better growth in the coming years.