HIAB CORPORATION, PRESS RELEASE, 26 NOVEMBER 2025 AT 9:00 AM (EET)
Hiab has signed an agreement to acquire leading Brazilian crane manufacturer ING Cranes, strengthening Hiab’s position in the Brazilian market
Hiab, a leading provider of smart and sustainable on-road load handling solutions, has entered into an agreement to acquire ING Cranes, a leading Brazilian crane manufacturer. This strategic move significantly enhances Hiab’s presence in Brazil, complementing its current portfolio in the market.
ING Cranes was founded in 2010. In 2024, the company reported sales of approximately EUR 50 million and today employs around 250 people.
“The acquisition of ING Cranes is a logical step in Hiab’s growth strategy, and it aligns well with Hiab’s ambition to expand not only organically but also inorganically. Over its 15-year history, ING Cranes has demonstrated a strong track record of profitable growth. Therefore, we expect that, post-transaction, this will help us increase our overall market presence as well as our ability to deliver significant value for our customers and all external stakeholders,” says Hiab’s President and CEO Scott Phillips.
“This acquisition brings together Hiab’s global reach and broad loader crane offering with ING Cranes’ strong local expertise and portfolio. With this, Hiab positions itself to become the leading loader crane provider in Brazil,” says Marcel Boxem, VP Sales & Product Management, Hiab Loader Cranes, Heavy and Superheavy.
The acquisition complements Hiab’s current brand portfolio of loader cranes in Brazil. With this addition, Hiab offers a comprehensive range of loader cranes from light to heavy-duty, solidifying its position as a preferred solution provider for the Brazilian agriculture, rental, construction and transportation industries.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the beginning of 2026. The parties have agreed not to disclose the transaction value.
For further information, please contact:
Birgitte Skade, Executive Vice President, Marketing and Communications
Email: [email protected]
tel. +358 20 777 4000
Further information for investors:
Aki Vesikallio, Vice President, Investor Relations,
tel. +358 40 729 1670
Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company’s continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people. www.hiabgroup.com