Hiab, part of Cargotec, and Consorcio Industrial Puebla S.A.P.I. de C.V. (CIPSA) have signed an agreement regarding a long-term distribution partnership in the Americas region.
As a part of the transaction, Hiab will sell its current sales company HIAB S.A de C.V., which employs 70 people. Rafael Llamas will continue as the Managing Director of HIAB S.A. de C.V. in Mexico. The parties have agreed not to disclose the value of the transaction, which will follow on Dec. 29.
The transaction supports the implementation of the strategic business targets of Hiab to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.
Carl Gustaf Göransson, Senior Vice President of Sales and Markets at Hiab, says: "Hiab's successful collaboration with CIPSA started back in 1976. By further developing our long-term relationship with CIPSA, which already owns 25% of Hiab's sales company, we are able to strengthen our leadership position and customer service in a key market. CIPSA is a respected partner, who has shown great commitment and high ambition to invest and take the company to the next level. We are very excited to take this step with CIPSA as our partner in Mexico. Hiab will continue to support the operations of Hiab S.A. de C.V. to enhance competitiveness and customer satisfaction."
Marcos Mastretta, Managing Director of CIPSA, comments: "The unified ownership structure will allow us to fully execute our vision of being the leader in the construction industry. Now, we can focus on meeting the growing expectations of our customers in terms of providing innovative products and services to ensure their success."