Hiab completes the acquisition of Argos loader crane business in Brazil

Hiab completes the acquisition of Argos loader crane business in Brazil

Hiab, part of Cargotec, has completed the formal process to acquire the loader crane business of Argos Guindastes Indústria e Comércio Ltda. The transaction was announced on 1 August 2017.

Argos is one of Brazil’s leading loader crane manufacturers. The acquisition will strengthen Hiab’s strategy and leadership ambition by making a strong entrance to the Brazilian market and establishing a solid foundation for its business in the whole region. In the future, Hiab will operate its loader crane business under Hiab Brasil Guindastes e Serviços Ltda. in Brazil.

The results of this company loader crane business will be consolidated in Hiab business area results as part of Cargotec as of October 2017.

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