Austrian portable forklift manufacturer, Palfinger AG, has acquired Bison stematic, the German leader in truck-mounted aerial work platforms.

The move represents a major shift in focus for Palfinger which, with the addition of Bison's EUR13 million (USD16 million) annual sales, gives the company the potential to reach the top of the European market.

Palfinger released its own ACCESS truck-mounted platform last year, so management is keen to quickly integrate the newly-acquired business.

In a detailed report released by the company, Palfinger said Bison would operate as Bison Palfinger GmbH, subsidiary to Palfinger Europe GmbH.

The European volume market is estimated at about EUR300 million (USD379 million), with predicted annual growth of 3 per cent. The largest markets for truck-mounted aerial work platforms are France, Germany, the UK, Italy and Spain.