KINSHOFER has announced a merger with Italy-based hydraulic breaker manufacturer, Hammer.
Under the terms of the agreement, the truck mounted crane, excavator and skid steer attachment manufacturer has acquired a majority shareholding of Hammer.
Kinshofer said the acquisition would add additional product segments such as a full range of hydraulic breakers and demolition tools to its offering, and improve its distribution channel in markets where the Hammer brand is strong. Kinshofer now has enhanced local manufacturing in Italy, with Molfetta-based facilities.
Established in 2004, family firm Hammer is focused on the development and marketing of hydraulic breakers up to 15t self-weight and other demolition tools. The company will continue to develop and sell products globally.
In order to meet the current market requirements, Hammer and Kinshofer will recruit more staff, with the aim of ensuring a “swift and professional market launch of the companies’ products within either sales organisation”.
Thomas Friedrich, president and CEO of Kinshofer Group said, “Kinshofer continues its strategy to provide the industry with a ‘one-stop-shop’ solution of outstandingly engineered products to increase efficiency and, more importantly, profitability of its customers. The acquisition of Hammer was the next step in our approach to be a global industry leader with solid local presence.”
Valerio Modugno, co-owner and managing director of Hammer added, “The concentration of knowledge and competence will form a powerful centre for future developments customers can only benefit from. In particular the combination of both product ranges will create more groundbreaking innovations for the industry. The whole Hammer management team, which will stay on in its entirety, is very excited to be part of this mutual future.”
