CRAMO ACQUIRES SKANSKA'S DANISH RENTAL OPERATION
Cramo A/S, the Danish wholly-owned subsidiary of Cramo Plc, has acquired
Skanska
Denmark's rental organisation with all personnel, existing machine
fleet and
related external rental contracts. Cramo estimates that the
acquisition will
provide an additional annual rental volume of up to a
minimum of DKK 100 million
(EUR 13.5 million). Related to the deal is a
pan-Nordic cooperation agreement
between Cramo and Skanska.
The acquisition is a result of Cramo's
ambition to grow in the Nordic market. At
the same time, Skanska has announced
their intention to divest their
construction business in Denmark.
"This agreement is very
valuable to both parties since it will strengthen our
relationship on a
group level", says Göran Carlson, deputy CEO in Cramo. "The
pan-Nordic
agreement can add substantial volumes annually for Cramo already in
the
short-term. The acquisition in Denmark will accelerate Cramo's efforts to
continue take an active part in the consolidation of a fairly fragmented
market."
90% of the operations involved in the acquisition is related to
internal rental
to Skanska´s construction operations in Denmark. The business
is located in
Aarhus, Odense and Taastrup. The rental fleet includes a
wide range of some
3.000 units. The parties have agreed not to disclose
the purchase price.
Cramo's operations in Denmark are growing at a
high pace with six new depots
being opened only in this year to a total of
16 depots. Since the acquisition of
Skanska's Modular space operation Consite
in 2004 and now Skanska's site huts
operation, Cramo is Denmark's leading
rental operator in that field. The
explicit target is to become one of
the two largest operators in equipment
rental and rental of modular
space.
"The cooperation between
us and Skanska has developed very positively and we
know the organizations
and its customers well", says Ole Wamsler, Managing
Director in Cramo
A/S. "Acquiring Skanska's equipment rental operation is of
strategic
importance to Cramo's Danish operation as it give us both equipment
and
specialized competencies. Especially in the field of cranes, hoists, heavy
construction equipment, security equipment and multiservice. Our capacity to
serve customers in the industrial and construction sector will also be
approved."
CRAMO PLC
Vesa Koivula
President and CEO
Further information
Göran Carlson, Deputy CEO, Cramo, tel. +46 8 623 5400
Ole Wamsler, Managing Director, Cramo A/S, tel. +45
43 20 05 56
Distribution
OMX Nordic Exchange Helsinki
Major media
www.cramo.com
Cramo Plc is a service company
specialising in construction machinery and
equipment rental and
rental-related services, as well as rental and sale of
modular space. As
one of the industry's leading service providers in the Nordic
countries and
Central and Eastern Europe, Cramo operates in ten countries with
250
outlets. With a group staff of approximately 2,000, Cramo's consolidated
sales for 2006 totalled EUR 402 million. Cramo is listed on the OMX Nordic
Exchange Helsinki. For further information, please visit www.cramo.com.
For more information about Cramo A/S and the Danish operation, see
www.cramo.dk
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