Vantaa, Finland, 2017-06-13 08:00 CEST (GLOBE NEWSWIRE) -- Cramo Plc Investor News 13 June 2017, at 9.00 am (EET)
Cramo strengthens its Modular Space offering in Denmark by acquiring assets of Just Pavillon A/S
In line with Cramo’s strategy to strengthen its Modular Space business in key markets, Cramo has signed an agreement to acquire the assets of Just Pavillon A/S. The acquisition includes the modular space rental fleet, customer contracts and other assets of Just Pavillon A/S. The assets are acquired from the owner and will be merged into Cramo A/S in Denmark. During 2016, Just Pavillon’s sales amounted to DKK 27 million. The acquisition is not expected to have a material impact on the Group’s sales and earnings in 2017.
Just Pavillon’s offering is a complement to Cramo’s existing business in Denmark and its product range consists of 360 modular units mainly used in the school and office segments. Just Pavillon’s high quality product, Series 9000, is designed for school solutions and is recognised as being one of the best in the Danish market and highly valued by customers.
“Acquiring Just Pavillon’s modular space business is an important step for our Modular Space business in Denmark. Just Pavillon has strong profitable growth and helps us gain a bigger market share in addition to our existing organic growth. The Modular Space division in Denmark has great potential due to a good market outlook in the long term”, says Mr Leif Gustafsson, President and CEO of Cramo Group.
CRAMO PLC
Leif Gustafsson
President and CEO
Further information:
Mr Leif Gustafsson, President and CEO, tel: +358 10 661 10
Mr Aku Rumpunen, CFO, tel: +358 10 661 10, +358 40 556 3546
Mr Mattias Rådström, SVP, Communication, Marketing and Investor Relations, tel: +46 70 868 7045
Distribution:
Nasdaq Helsinki Ltd.
Major media
www.cramogroup.com
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 and in about 320 depots. With a group staff around 2,600, Cramo's consolidated sales in 2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.
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