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Hiab, part of Cargotec, completed the acquisition of Effer S.p.A., a knuckle-boom crane manufacturer, from CTE Group. The signing was announced on July 31, 2018.
Hiab, part of Cargotec, has agreed to acquire the Effer loader cranes business from CTE Group for an enterprise value of EUR 50 million. Effer is headquartered in Minerbio, Italy.