Vienna - Austrian crane manufacturer Palfinger AG announced Thursday it was taking over Omaha Standard Inc, a leading truck-body maker in the United States that was under pressure from the financial crisis.
Palfinger, the world 's biggest producer of truck-bound cranes, said it would take over 100 per cent of the Iowa-based maker of bodies for pick-up and service trucks.
Omaha Standard has expanded its production capacity in recent years, but has not been able to use it fully due to the economic and financial crisis in the US.
The Austrian company said in a statement that Omaha Standard would be able to benefit from Palfinger's distribution channels.