Singapore-based crane rental company Tat Hong’s offer to acquire the remaining shares of its Australian subsidiary Tutt Bryant has been recommended by Tutt Bryant’s independent directors. One of the largest crawler crane companies in the world, Tat Hong already owns 70 percent of the Australian rental company.
TB’s managing director David Haynes expressed optimism that crane and heavy haulage will improve in 2011. The company, which also provides general construction rental, was established in 1938 and was owned 100 percent by Tat Hong from 1996 until part of TB went public in 2005.
