MAN Group sells its cranes

The MAN Group has sold its subsidiary MAN Wolffkran to a private German-Swiss business group headed by Dr. Peter Schiefer and Dr. Hans-Peter Koller.

MAN Wolffkran, based in Heilbronn, produces, sells and hires out tower cranes for the building industry. In 2004, the company generated sales of some 35 million Euros and has around 200 employees.

The group acquiring the subsidiary will retain the Wolffkran brand as well as all the company’s production sites; no job cuts are planned.

MAN took over Wolffkran completely in 1975, after holding a majority share in the company since 1953. Now, it intends to focus its efforts on its Commercial Vehicles, Industrial Services, Printing Systems, Diesel Engines and Turbomachines divisions.