This news release follows rumors which have circulated for the last few days and aims to clarify officially the restructuring measures taken by CTE Group.

Following the acquisitions by CTE of the EFFER Group in 2006, which in addition to the EFFER lorry-mounted and marine crane business included also the BIZZOCCHI truckmounted aerial platform business, and as a consequence of the significant downturn of the market since the beginning of 2009, CTE Group has started a reorganization process of its manufacturing facilities which will lead to the following changes:

The production of part of the B-LIFT truckmounted platform production (currently manufactured in the “Bizzocchi” Bertinoro plant) will be concentrated in the “Sequani” plant in Rivoli Veronese. This reorganization is aimed at rationalizing the current aerial work platform production sites of of the CTE Group, which are currently located in Bertinoro (Forlì), Rivoli Veronese (Verona), and Rovereto (Trento).
The Bertinoro plant will be focusing on aerial platforms of higher technological content, such as the B-LIFT “High Range” (currently offered from 36 to 62 m working height) and the B-FIRE range (truckmounted firefighting platforms), market segments in which CTE has made significant investments over the last few years and acquired a considerable level of technical know-how.

All management and sales functions will remain located at the Rovereto headquarters.

These changes will not modify the company policies or commercial strategies of CTE Group.

We are aware that these decisions will have painful consequences in terms of employment levels in the immediate future, but they are considered absolutely necessary in order to assure the Group’s future and to adapt to current market conditions. CTE is determined to remain one of the leaders in the truck-mounted and tracked platform segments. In 2011 we have acquired orders for more than 1000 units, a number which no other European manufacturer is likely to have achieved, and with this reorganization of our manufacturing sites we are convinced that we can perform better both in the markets where we already operate with great success (Europe, Russia, Middle East, China and Brazil) as well as in the markets where we have just recently started to gain a market presence.