Palfinger grabs major NDM share

Salzburg crane and hydraulic systems producer Palfinger has taken a major stake in Dutch company Ned-Deck Marine B.V. (NDM), it has emerged.Palfinger chief Herbert Ortner said today (Fri) he was convinced the acquisition of 75 per cent of NDM’s shares will improve his firm’s service capacities.”NDM’s turnover remained stable year on year in 2009 despite suffering a 30 per cent market share slump,” Ortner explained.The firm specialises in the production of special lifeboat cranes.Palfinger, which is headquartered in Bergheim, Salzburg, announced only a few weeks ago that it would team up with US company ETI. Palfinger had previously not been active in the US market.Palfinger’s turnover declined by 36.4 per cent year on year to 505.4 million Euros in 2009, a year described by company chiefs as the “worst in recent history for us”.