Hiab Completes Acquisition of Brazilian Loader Crane Manufacturer ING Cranes
30 Second Takeaway
Hiab has completed its acquisition of Brazilian articulated loader crane manufacturer ING Cranes (ING Guindastes), significantly strengthening its footprint in Brazil and the wider Latin American loader crane market. The deal, agreed in November, expands Hiab’s regional manufacturing and market presence, particularly in the articulated loader crane sector.
Hiab Strengthens Brazilian Market Position
Hiab has finalised its acquisition of ING Cranes / ING Guindastes, a Brazil-based manufacturer of articulated loader cranes.
The transaction, first announced in November, marks a strategic move to expand Hiab’s presence in Brazil, one of the largest and fastest-growing markets for loader cranes in Latin America.
Expanding the Articulated Loader Crane Portfolio
The acquisition significantly enhances Hiab’s position in the Brazilian articulated loader crane market, supporting customers across:
Agriculture
Equipment rental
Construction
Transportation and logistics
ING Cranes generates annual revenues of approximately €50 million. Both companies have confirmed that the purchase price has not been disclosed.
Leadership Commentary
Marcel Boxem, President of Hiab, said:
“We are very pleased to welcome ING Cranes as part of Hiab, solidifying our position as a preferred solution provider for the Brazilian agriculture, rental, construction and transportation industries.”
Horacio Bregoli, Chief Executive of ING Cranes, added:
“We are excited to join Hiab and take this step in expanding the presence of our products. Becoming part of Hiab provides an opportunity for growth and innovation, and to join Hiab’s journey in shaping the future of this industry.”
Strengthening Local Manufacturing and Market Reach
The acquisition enables Hiab to strengthen its local manufacturing capability, expand its product offering, and deepen customer relationships within Brazil, while leveraging Hiab’s global distribution, service network, and technology platform.
About Hiab
Hiab, part of Cargotec, is a global leader in intelligent load handling solutions, including loader cranes, forestry cranes, truck-mounted forklifts, and demountables. Hiab serves customers worldwide through a combination of strong brands, local manufacturing, and global service support, with a focus on safety, productivity, and sustainability.
Website: https://www.hiab.com
About ING Cranes (ING Guindastes)
ING Cranes (ING Guindastes) is a Brazilian manufacturer specialising in articulated loader cranes for agriculture, construction, transportation, and rental applications. The company has established a strong domestic presence and generates annual revenues of approximately €50 million.
Frequently Asked Questions
Who has Hiab acquired?
Hiab has acquired ING Cranes / ING Guindastes, a Brazilian articulated loader crane manufacturer.
When was the acquisition agreed?
The deal was agreed in November and has now been completed.
Was the purchase price disclosed?
No. Both parties agreed not to disclose the value of the transaction.
Why is this acquisition significant?
It significantly expands Hiab’s presence in Brazil, particularly in the articulated loader crane market.
What markets does ING Cranes serve?
ING Cranes supplies equipment to the agriculture, rental, construction, and transportation sectors.
