Vantaa, Finland, 2014-04-15 09:30 CEST (GLOBE NEWSWIRE) -- Cramo Plc Investor News 15 April 2014 at 10.30 am (EET)
Cramo acquires the modular space rental company C/S RaumCenter GmbH in Germany
Cramo Plc acquires all the shares of the modular space rental company C/S RaumCenter GmbH in Germany. The acquisition provides Cramo an excellent stepping stone for establishing and further growing its modular space business in the German market. The acquisition also provides Cramo an opportunity to introduce its Nordic modular space applications and concepts into the German market in the future.
C/S RaumCenter was established 30 years ago in Frankfurt and it is today one of the most significant modular space rental companies particularly in the Rhein-Main area in Germany. The company’s core business is to offer high-quality modular space solutions for various types of private and public customers.
The sales of C/S RaumCenter were about EUR 4 million in 2013 and the result was good. The company’s fleet consists of about 900 units of modular space. The company employs 21 people, who will all continue at the service of the company. The company will continue to operate under its current name until further notice.
”C/S RaumCenter is a highly respected player within modular space especially in the Frankfurt market area. The company has plenty of competence and knowledge of different types of modular space solutions, which further strengthens Cramo’s solution offering. In the future, our target is to grow the modular space business to cover entire Germany. Thus this acquisition provides Cramo a channel to penetrate the German modular space rental market”, says Mr Petri Moksén, Senior Vice President of Modular Space at Cramo.
”This acquisition fits perfectly with Cramo’s strategy of expansion in Germany and Central Europe also in the area of modular space”, says Mr Martti Ala-Härkönen, CFO at Cramo Plc.
"This acquisition complements and follows the plan that Cramo and Theisen have in Germany to expand offering according to the Cramo Concept", says Mr Dirk Schlitzkus, Executive Vice President, Central Europe at Cramo.
"Based on my discussions, I have developed a strong opinion that Cramo is a player who has excellent transferable skills both to continue as well as improve profitable business in this area in Germany. I await with aspiration the start of our co-operation after the acquisition. I strongly believe that this transaction will be for the benefit of our customers and employees, says Mr Klaus Schmidt, the owner and Managing Director of C/S RaumCenter GmbH.
Mr Schmidt has made a long and successful career in developing and growing the business of C/S RaumCenter. He will continue, prior to his retirement, as advisor to both companies until the end of 2014.
Mr Petri Moksén, Senior Vice President, Modular Space, Cramo Plc, tel: +358 50 534 7257
Mr Martti Ala-Härkönen, CFO, Cramo Plc, tel: +358 40 737 6633
Mr Dirk Schlitzkus, Executive Vice President, Central Europe, Cramo Group, tel: +49 89 8579 8200
Mr Klaus Schmidt, Managing Director, C/S RaumCenter GmbH, tel: +49 172 6622 301
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in fifteen countries with 360 depots. With a group staff of around 2.500, Cramo's consolidated sales in 2013 was EUR 660 million. Cramo shares are listed on the NASDAQ OMX Helsinki Ltd.
For further information, please visit: www.cramo.com