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Pa ifinger gets a lift in the UK
Page 17
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RATCLIFE GROUP has sold its Ratcliff Tail Lifts subsidiary to Austrian crane specialist Palfinger AG.The deal which has yet to earn regulatory approval from Austria's anti-trust authority, leaves Palfinger claiming the title of UK tail-lift market leader.
At the same time, Palfinger's strong presence in world markets is expected to open up new marketing opportunities for the Ratcliff product.
Satisfied that the sale agreement safeguards the future of the Welwyn Garden City production unit, Ratcliff Group's co-owner John Ratcliff says there was already a good business relationship with Palfinger.
"They're a much larger, yet still a family-owned business." he explains, "so selling to the Austrians seemed a logical progression which should strengthen the factory's business base".
Palfinger's worldwide turnover was £403.7m (£208.4m) last year;it has over 2,300 employee& By way of contrast, Ratcliff made in the region of £30m (£21.4m) with a workforce of just 200.
Its Hertfordshire factory will operate normally under its existing management team, headed by group MD John Lane.