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