CTE Group S.p.A. has entered into an agreement to sell 100% of Effer S.p.A. shares to Hiab AB.
Effer will continue to operate as part of Hiab under its brand and through its dealer network.
Hiab’s strategy builds on the strengths of the combined Effer and Hiab. With a enhanced global presence, complementary sales distribution and service network, strengthened after-sales capability, and combined R&D excellence, Hiab with Effer will be able to serve our customers even better.
We expect our customers and partners to react positively to the prospect of Effer becoming part of Hiab.
Hiab is the right partner to continue to develop and grow Effer. We are delighted that Effer becomes part of an organization with an equally proud past, passion for quality and reliability, and drive for innovation.
Please note that the transaction is subject to regulatory approvals, which are expected to be received in second half 2018.