Norway: PALFINGER Takes Over Bergen Group Dreggen

The PALFINGER Group has agreed to take over Bergen Group Dreggen AS, a renowned Norwegian producer of marine and offshore cranes and lifting equipment. The transaction is subject to customary closing conditions, including approval from the Competition Authorities in Norway, and is expected to be closed by the end of November.

Herbert Ortner, CEO of PALFINGER AG said:: “Dreggen is well-positioned and shares PALFINGER’s high quality demands. The incorporation of this company into our Group marks a milestone for our marine business.”

Bergen Group Dreggen AS (Dreggen), headquartered in Bergen, Norway, has 25 years of experience in the market for marine and offshore cranes. An independent division of the Bergen Group, the company specializes in tailor-made crane solutions for the shipbuilding, oil and gas industries. Dreggen is strongly positioned on the Norwegian market and supplies renowned international customers. Sales offices in Brazil and Singapore and a global sales and services network ensure that Dreggen is also well-positioned for further growth. In 2011, the company’s 75 employees generated revenue of approx. EUR 30 million.

Excellent growth opportunities are expected in the marine sector and, in particular, the offshore sector. Offshore fleets for drilling platforms and their supply as well as commercial fleets have recorded unrestricted growth in recent years and, in addition, high energy and oil prices have encouraged further investments in exploration and production.

This acquisition is an important growth step for PALFINGER’s marine business. The integration of Dreggen is going to reinforce the dynamic development of this business even further. The Dreggen cranes will expand the product portfolio for the offshore sector considerably, adding jack-up rigs, FPSOs and drilling vessels. “The offshore sector requires cranes that have been adapted to the highly explosive environment. In future, these special requirements will be perfectly met by the new Business Unit ‘Offshore Cranes’,” says Karl Oberreiter, Head of PALFINGER MARINE.

In future, Dreggen will operate under the name of PALFINGER DREGGEN and combine the strong brand values of both companies in the offshore area. Ortner recognizes the great potential of this takeover: “Our business area Marine has shown outstanding performance and has already become a highly profitable area of our Company. With Dreggen we can now enter a new dimension that will not only bring about a great boost to growth but will also open up new opportunities and markets”.

[mappress]

Press release, October 30, 2012; Image: palfinger