Hiab grows family in Brazil
Hiab, part of Cargotec, has acquired the loader crane business of one of Brazil’s leading loader crane manufacturers, Argos Guindastes Indústria e Comércio.
The acquisition is expected to happen later this year. The value of the transaction is not disclosed.
Argos is a privately owned company established in 2002, with a manufacturing facility in Santo Antonio da Patrulha as well as an extensive distribution network across Brazil and Latin America. With the purchase, Hiab enters the Brazilian market and establishes a foundation for its business in the whole region.
“Brazil is one of the world’s largest markets for loader cranes,” says Roland Sundén, Hiab’s president. “A presence in Brazil is important in order to become the leading player in the global load handling industry. The acquisition of Argos is another concrete step in line with our strategy to grow and become the number one player in load handling worldwide.”