In a busy week, Cramo, the Helsinki, Finland-based international rental giant, acquired two Swedish rental companies and opened a new branch in Russia.
Cramo’s Russian unit Cramo Rentakran, jointly owned by Cramo Plc and ZAO Rentakran last week opened a new operation in Yekaterinburg. Until now, the joint venture, which was established in August 2007, has focused in the Moscow area.
“Opening in Yekaterinburg now follows our expansive plan for Russia,” said Cram’s senior vice president Jorma Laasanen. “We have already delivered a number of hoists and aerials to large projects in the area.”
Laasanen added that the company will soon open in Krasnodar, the capital city of the Sochi region where the 2014 Winter Olympics will be held.
Cramo Sverige AB, Cramo’s wholly owned Swedish subsidiary, also last week acquired Hyrmaskiner I Bolinas AB, a rental company operating under the Tidermans brand name. HiB is focused on the rental of building machinery, aerial equipment, compact construction machinery, scaffolding and site huts. Its annual rental volume is about €1.1 million (about $1.7 million U.S.).
Cramo has more than 100 branches in Sweden.
“So far we have not had our own depot in Bolinas,” said district manager for the central Norrland region Stefan Brink. “This acquisition is thus an important step in strengthening our local position, and at the same time the service level towards our largest customers in the district.”
Cramo also acquired Kranab, a Stockhold-based firm specializing in aerial equipment, with a fleet of more than 650 aerial units.
Kranab generated revenues of about €7.2 million (about US $11.3 million) in the year ended April 2007.