Palfinger buys INMAN in Russia

Austria-based Palfinger has acquired fellow loader crane manufacturer Ischimbajskie Neftianiye Manipuliatory, JSC (INMAN), based in Russia.

INMAN is headquarterd in Ishimbay, the Republic of Bashkortostan, in the Volga region south of Russia. The company has two factories and has been a distributor of straight boom and articulated loader cranes since 1992. It has 415 employees and a €20 million (US$28 million) turnover.

The company also offers a range of services from certification for the Russian market to maintenance and spare parts. It primarily supplies companies in the oil and gas industry.

"We were looking for a well-established and reliable partner based in the CIS area in order to establish local value creation. INMAN is a manufacturer of premium, reliable products and has a very strong and long-standing brand name. Its product portfolio is the perfect addition to the Palfinger products. The company's good market position allows us in particular to open up the Ural region," said Herbert Ortner, CEO of Austria-based Palfinger.

INMAN will exist as a separate brand within the Palfinger group. The acquisition is still subject to the approval of the supervisory boards of both parties and the Federal Antimonopoly Service of the Russian Federation (FAS). Palfinger now has 50 dealers on both sides of the Urals.