Austrian crane manufacturer Palfinger has signed a deal to acquire 100 percent of its Swedish distributor Hinz F枚rs盲ljnings.

The company, which has had a collaborative relationship with Hinz for around 46 years, said the deal (for an undisclosed amount) would allow it to strengthen its position in Sweden鈥檚 core market and provide essential contact with Swedish truck manufacturers and OEMs.

Andreas Klauser, Palfinger CEO, said, 鈥淎cquiring our long-standing partner is a vital step towards providing our Scandinavian customers with even more intensive and comprehensive support 鈥� keeping in line with our brand promise: Creating value and growing together鈥�.

Hinz is the second largest dealer in Palfinger鈥檚 worldwide network, with five service points, 45 service partners and 71 employees. It offers Palfinger equipment, including naval cranes, and services to the Northern European market and in 2019 reported sales of 鈧�44 million (US$53.1 million).

Palfinger, which already has more than 11,000 employees, 35 locations and 5,000 sales and service points, also confirmed that Magnus Hinz and Magnus Rosberg would continue in their respective roles of sales manager and managing director.