Time Manufacturing Company, a Texas-based manufacturer of aerial lift vehicles for easy maintenance of electric utilities, telecommunications, infrastructure, etc., has completed the acquisition process of Ruthmann GmbH & Co KG.
Ruthmann is a company similar to Time Manufacturing which originated from Gescher-Hochmoor, Germany. Ruthmann has a long history of manufacturing air lift vehicles in Europe under the Ruthmann, Steiger, Ecoline and Bluelift brands.
It was not stated how much the acquisition cost, but the joining of Ruthmann further strengthened Time Manufacturing in offering utility maintenance buffer products in the global market. Ruthmann’s brands will also add to the list of brands previously managed by Time Manufacturing such as Versalift, Aspen Aerials, and BrandFX.
Curt Howell, CEO of Time Manufacturing Company, said Time Manufacturing and Ruthmann can come to the market together to complement each other. “The Ruthman brand represents quality and reliability, and we are delighted to partner with them to grow their respective businesses,” he said on Monday (15/2).
For Ruthman, being under the auspices of Time Manufacturing is an opportunity to expand the global market. “Time Manufacturing has an international operation which is a tremendous opportunity to expand and promote the Ruthmann brand to the global market,” said Rofl Kulawik, Managing Director of Ruthmann.
As there are many developments in various countries, air work products are increasingly needed. Based on data submitted by market research firm ResearchAndMarkets, the global air work platform market in 2019 is worth US$9.5 billion and is expected to rise to US$17.6 billion by 2026.