Cargotec aims to rebrand as Hiab
NewsCargotec is poised to rebrand to Hiab pending the demerger of Kalmar and potential sale of MacGregor.
Hiab, Cargotec’s loader BU, has entered into an agreement to acquire the US demountables manufacturer Galfab, which makes roll-off hoists and related equipment for the domestic waste industry.
Galfab will become part of Hiab’s Demountables, Forestry & Recycling Cranes division. The division includes hooklift and skiploader demountables sold under the Multilift brand, as well as Jonsered recycling cranes, known as material handlers in the US, and Loglift forestry cranes.
Galfab is owned by its employees and Mosaic Capital Partners, LLC. The acquisition is subject to passing the approval process of sellers and Hiab. Closing is expected to take place before the end of September.
The acquisition expands Hiab’s US manufacturing footprint that previously included the multi-assembly unit for WALTCO tail lifts in Streetsboro, Ohio.
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