Chinese crane manufacturer Zoomlion has confirmed the acquisition of German tower crane company Wilbert Turmkrane. The deal was to acquire 100 per cent of the German’s company equity that was signed on 27th November 2018.
Wilbert is based in Waldlaubersheim, to the west of Frankfurt, Germany, where it has a production facility, offices and warehousing and a large rental yard totalling around 50,000 square metres on a 47-acre site, with the outside space used for storage and testing. The company built its name in the German tower crane rental market in a long term partnership with Wolffkran, but began manufacturing its own flat top and luffing jib tower cranes in 2004, bringing its relationship with Wolffkran to an end. It currently employs 132 and was saved from administration in 2014 by Chinese automotive product manufacturer Nanyang Guoyo. Zoomlion says that Wilbert will maintain both the manufacturing and rental of tower cranes and will focus on higher quality cranes for western markets.
A statement from Zoomlion said: “This deal will enable a strong alliance between the two parties. Zoomlion will rapidly realise self-improvement by learning from the experience and technology of the top international brand and fill the gaps in the high-end markets in Europe and the USA, relying on tremendous business resources of Wilbert. While Wilbert can quickly promote its sales and market share with Zoomlion’s extensive marketing network and advantages in the capital. Wilbert products have great potential in not only Europe and America but also the Chinese high-end market. The two giants will also coordinate their supply chains and utilise the resources of the other for lower purchasing costs and achieve mutual development.”
Wilbert added: “Zoomlion is one of the largest manufacturers of construction machinery in China and is looking for access to the European market. We hope to advance the targeted expansion of the capital intensive core business in Germany and internationally.”