News story

Hubtex forms Australian subsidiary

Wednesday, 9 September 2020 ( #991 ) - Sydney, NSW, Australia
Hubtex Australia is now a subsidiary of the German company
Hubtex Australia is now a subsidiary of the German company
Hubtex's German head office has taken over its Australian distributor, Hubtex Australia, acquiring all the shares held by the previous owner. The acquisition, after 25 years of operation in the local market, will enable the forklift manufacturer to significantly expand its business operations in Australia and pursue an international growth strategy, even in the current economic crisis. The previous owner of Hubtex Australia, Bill Parry, who founded Parry Forklifts in 1995, will stay active in sales, marketing and business development. His long-term partner of 25 years, Bruce Peatman, has taken over the management of the company. Hubtex says the Australian market is one of the most important markets worldwide, outside of Europe and the United States. With around 1,400 machines, the forklift manufacturer currently has the highest vehicle density in comparison to the population. The transition from a former distributor partner into a subsidiary also means that Hubtex is gaining the largest branch network outside Germany. With its Australian headquarters in Sydney, Hubtex Australia also has facilities in the major metropolitan areas of Melbourne and Brisbane, with service branches in Adelaide and Perth.