CARGOTEC CORPORATION, TRADE PRESS RELEASE, 20 DECEMBER 2022 AT 4:00 PM EET<\/p>\n
Hiab, part of Cargotec, has entered into an agreement to acquire the family-owned
\nSwedish industrial group Olsbergs, which designs, manufactures and supplies hydraulic
\nvalves and remote control systems used to manoeuvre Hiab\u2019s truck mounted loader
\ncranes and forestry cranes. The closing takes place on 1 January 2023 and the integration
\nof Olsbergs into Hiab as a separate business unit starts immediately after closing.<\/p>\n
Olsbergs\u2019 industry leading hydraulic and remote systems have been used by Hiab since
\nthe mid-80\u2019s. Remote controls from Olsbergs are currently offered to Hiab customers as
\nCombiDrive 3 and CD4. Olsbergs valves and CombiDrive remote controls combined with
\nthe SPACEevo software, developed by Hiab, are the three most important parts of Hiab\u2019s
\nadvanced control systems.<\/p>\n
After the acquisition is completed, Olsbergs will become a business unit in Hiab\u2019s Loader
\nCranes Light & Medium division and all 100 employees join Hiab. The current owners
\nremain in the business in their current roles.<\/p>\n
The Olsbergs name will remain as an endorsed brand: Olsbergs, a Hiab company.<\/p>\n
\u201cOlsbergs technology has been instrumental in making Hiab the leading provider of the<\/em> \u201cI look forward to welcoming 100 new colleagues from Olsbergs to Hiab. One of our key<\/em> \u201cAfter decades of close cooperation, we look forward to becoming part of Hiab. We see it<\/em> The modern-day Olsbergs can trace its origins to 1906 when Olsbergs Gjuteri AB was Further information:<\/strong> Annika Falk<\/strong>, Vice President, Marketing and Communications, Hiab, Alexander Gelis<\/strong>, Vice President, Loader Cranes Light and Medium, Sales and Product Jan-Erik Steen<\/strong>, VD Olsbergs Electronics, m: +46 708 358 833, Christina Henriksson<\/strong>, VD Olsbergs Hydraulics, m: +46 705 408 755, About Hiab<\/strong> CARGOTEC CORPORATION, TRADE PRESS RELEASE, 20 DECEMBER 2022 AT 4:00 PM EET Hiab, part of Cargotec, has entered into an agreement to acquire the family-owned Swedish industrial group Olsbergs, which designs, manufactures and supplies hydraulic valves and remote control systems used to manoeuvre Hiab\u2019s truck mounted loader cranes and forestry cranes. The closing takes place […]<\/p>\n","protected":false},"author":5,"featured_media":5204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\r\n
\nmost advanced loader cranes on the market. By making Olsbergs a part of Hiab, we<\/em>
\nstrengthen our technology leadership and can accelerate the development of our loader<\/em>
\ncranes and shape the future of smart and sustainable load handling<\/em>,\u201d says Barry<\/strong>
\nMcGrane<\/strong>, Senior Vice President, Loader Cranes Light & Medium, Hiab.<\/p>\n
\ngrowth strategies is through acquisitions, and the competence in valve and remote control<\/em>
\ntechnology we now bring to Hiab will ensure we are able to further accelerate developing<\/em>
\nintegrated design solutions that will enable us to continue to set the industry standard for<\/em>
\ncontrol systems that are safer, faster, and easier to use<\/em>,\u201d says Scott Phillips<\/strong>, President,
\nHiab.<\/p>\n
\nas a natural next step in Olsberg’s more than 100-year history where we now have the<\/em>
\nopportunity, together with Hiab, to further strengthen Olsberg’s brand and take the next<\/em>
\nstep in technology and growth. As the operations will remain and grow both in Eksj\u00f6 and<\/em>
\nVallentuna, we have secured local jobs and created the best potential for future growth<\/em>,\u201d
\nsay Christina Henriksson<\/strong> and Jan-Erik Steen<\/strong>, Olsbergs.<\/p>\n
\nfounded in Bruzaholm, Eksj\u00f6, Sweden. In 1976 Olsbergs Hydraulics AB was founded in
\nEksj\u00f6, and Olsbergs Electronics, located in Vallentuna, Sweden, was founded in 1996.
\nCurrently, 85% of Olsbergs production is delivered to Hiab.<\/p>\n
\nBarry McGrane<\/strong>, Senior Vice President, Loader Cranes Light and Medium, Hiab,
\nm: +353 872791721, barry.mcgrane@hiab.com<\/p>\n
\nm: +46 706 021371, annika.falk@hiab.com<\/p>\n
\nManagement, Hiab, m: +46 703 954 266, alexander.gelis@hiab.com<\/p>\n
\njan-erik.steen@olsbergs.se<\/p>\n
\nchristina.henriksson@olsbergs.se<\/p>\n
\nHiab is a leading provider of smart and sustainable load handling solutions. We are
\ncommitted to delivering the best customer experience every day with the most engaged
\npeople and partners. Hiab’s premium equipment includes HIAB, EFFER and ARGOS
\nloader cranes, MOFFETT and PRINCETON truck mounted forklifts, LOGLIFT forestry
\ncranes, JONSERED recycling cranes, MULTILIFT skiploaders and hooklifts, GALFAB
\nroll-off cable hoists, and tail lifts under the ZEPRO, DEL and WALTCO brands. As the
\nindustry pioneer, Hiab continues to make load handling smarter, safer and more
\nsustainable to build a better tomorrow. www.hiab.com<\/a>
\nHiab is part of Cargotec Corporation. Cargotec (Nasdaq Helsinki: CGCBV) sales in 2021
\ntotalled approximately EUR 3.3 billion and it employs around 11,500 people.
\nwww.cargotec.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"