Palfinger has signed a contract to acquire TSK Kran und Wechselsysteme GmbH.
TSK produces a wide variety of tipper, crane and platform bodies and other special vehicle components and has worked with Palfinger for more than 20 years. TSK holds a significant market share in the Ruhr area.
Under the deal, Palfinger will take over the Duisburg-based company at the start of 2022.
For Palfinger, the acquisition strengthens its presence in the German market. For TSK, the takeover ensures its continued existence in full, with all its employees.
Following complete integration into the Palfinger Group, the Duisburg site will be expanded to become the central sales and service location in the region, under the direction of Matthias Köppen.
“Participating in our long-standing partner is an important step towards providing our customers in the Rhein-Ruhr region and ‘the three country corner’ with even more intensive and comprehensive support and emphasises the importance of the German market - in line with our brand promise: ‘Creating value together’,” explains Palfinger CEO Andreas Klauser.
Financial terms of the acquisition were not revealed.