Capital Equipment News December 2018

CONSTRUCTION NEWS

Top five 5 reasons to buy new “value” equipment vs auction machines

Hiab, part of Cargotec, has completed the acquisition of Effer S.p.A. from CTE Group. Signing of the transaction was announced on July 31 2018. For Hiab, as a global leader in on-road load handling solutions, the acquisition means a significant advancement in its ambition to be leader in cranes and preferred partner for its customers. Effer, headquartered in Minerbio, Italy, and with approximately 400 employees, is a renowned premium knuckle-boom crane manufacturer. Effer’s product range includes truck loader cranes, special application truck cranes and marine cranes, with particular recognition for heavy cranes >100 tm capacity. Distribution is managed through a network of more than 100 dealers covering about 60 countries globally. The addition of Effer will mean a further strengthening of Hiab’s development and innovation competence, an enhanced total cranes portfolio, increased coverage from widely complementary sales and distribution networks, and leverage Hiab’s service competence. The combined assets shall translate to continued brand and business growth and further improved experience for both brands’ customers. 1. Lower total cost of ownership: While less expensive on the initial sticker price than new ‘value‘ equipment, the maintenance and repair costs of an auction machine can add up over its lifecycle. Repair and maintenance costs can run as high as 75% of the machine’s purchase price, and typically see a rapid increase in years four, five and six of ownership, which is when most used machines are purchased. 2. Warranties: Not only will a new “value” machine need less repairs and maintenance, which translates to more uptime and fewer project delays, they are also covered by manufacturer warranties. Often first year service is covered, plus extended warranties are also available on many new machines. 3. Dealer relationships: Buyers should consider their preferred equipment dealer, and how they factor into repair and maintenance. Taking auction equipment to a third-party for service could be more costly. When buying a new “value” machine from a long-time

Effer will continue to operate under its recognised brand and identity, and through its established dealer and distribution partner network. Effer will be part of Hiab’s global cranes organisation, with Lorenzo Cipriani continuing as managing director of the company, reporting to Joakim Andersson, senior vice president Cranes, Hiab. “I am incredibly proud today to welcome Effer and its employees as part of the Hiab family. Bringing our two proud histories, strong brands and unique competence together will make Hiab and Effer stronger and able to even better serve our customers,” says Joakim Andersson. “It is in both of our companies’ DNA to innovate and now to truly lead this industry. I have no doubt, that combining our strengths will soon create tangible value to customers, partners, our people and combined business,” adds Scott Phillips, new president of Hiab. “We are really proud to be part of Hiab. This represents a great opportunity for Effer to bring our passion, professionalism and our solutions to truly global scale and success,” concludes Cipriani. b dealer partner, they often back the machine’s warranty and provide more timely service at a better price. 4. Better fits for applications: It might be tempting to buy an auction machine for all of its cutting-edge features. But if you are doing seasonal or low-hour applications, you may be paying for features you don’t need, or worse, paying to replace them if they break, for example, pricey electronics that have corroded and need replacement. A new “value” machine only has the basic, time-tested features needed for a variety of applications. 5. It’s new!: Nothing beats the feeling of pulling the sticker off of a brand-new piece of equipment and getting it out on the job site for the first time. Though they are called “value” equipment, make no mistake. Today’s machines are manufactured to extremely high production standards and feature technology that has been proven time and time again over the last few decades. Value doesn’t mean ‘cheap‘, it means not paying for features you don’t need. b

Value doesn’t mean “cheap”, it means not paying for features you don’t need.

Hiab completes acquisition of Effer Cranes

Signing of the transaction was announced on 31 July 2018.

• 100 dealers • Covering 60 countries globally

CAPITAL EQUIPMENT NEWS DECEMBER 2018 34