Palfinger's Olve site

Palfinger has transferred the operating business of its Norwegian production site in Olve to a new company. Under a management buy-out, the existing 47 jobs and factory operation are now removed from Palfinger control.

The Olve site specialised in lifeboat manufacture, and has been significantly affected by the crisis in the global cruise industry due to the COVID-19 pandemic.

"I am pleased that in what has been a difficult situation for the employees in Olve, we have found a promising perspective by securing the future of the site," says Palfinger CEO Andreas Klauser.

Palfinger will lease the Olve infrastructure to the new company and will make use of know-how and capacities on site for service, storage and - when needed - for the production of Palfinger products. "This shows that Palfinger is making a significant contribution to the new company's revenue over the initial period and supporting its strategic realignment. At the same time, we are securing a good and reliable partner with whom we can jointly shape the future," Klauser adds.

Meanwhile, Palfinger will expand development, sales and services at the neighbouring site in Seimsfoss to offer future-driven and customer-oriented solutions especially for the Norwegian boat and davit market. The Bergen site will continue to focus on its core products and competence concerning offshore cranes and marine handling solutions.

Olve, meanwhile, will apply its glass fibre-reinforced plastic expertise to new areas, including aquafarming.