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Hiab completes Effer acquisition

Hiab, has acquired knuckle-boom crane manufacturer Effer from CTE Group for an enterprise value of EUR50 million (USD57.1 million).

Italy-headquartered Effer's product range includes truck loader cranes, special application truck cranes and marine cranes, as well as heavy-duty cranes with a lifting capacity over 100 tonnes.

The manufacturer will join Hiab’s global cranes organisation and will continue to operate under the Effer brand. Lorenzo Cipriani will continue as managing director Effer and will report to Joakim Andersson, senior vice president cranes at Hiab.

www.hiab.com

www.cargotec.com

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