Cramo Plc Investor news 24 June 2008, at 9.15 am Finnish time (GMT+2)
Cramo expands in Norway through outsourcing deal with JM Byggholt
Equipment rental company Cramo AS, the Norwegian wholly-owned subsidiary of
Cramo Plc, has signed an agreement whereby Cramo takes over the rental
operations of JM Byggholt AS, including all rental assets and the staff of 12
persons. Related to the deal is a seven year cooperation agreement which makes
Cramo the main equipment rental supplier to JM Byggholt's operations. JM
Byggholt's revenues in 2007 was 212.5 million Euro.
Cramo AS is one of Norway's leading equipment rental companies with a complete
portfolio of rental products and services offered through 29 depots all over the
country. JM Byggholt is among the ten largest construction companies in the
country with a major market share in the capital area, and is represented also
in Stavanger, Bergen, Skien and Tönsberg.
Cramo's Norwegian operations have grown rapidly the last few years through a
combination of depot openings in major industrial areas and acquisitions.
- Growing in partnership with important customers is in many ways the ideal way
to expand, says Finn Lökken, Cramo AS managing director in a comment. In this
case it gives us immediate access to the competence and existing customer
relationships of JM Byggholt's rental personnel as well maintained fleet of
modern, efficient rental equipment. Furthermore it gives us a quick start in the
scaffolding area, where JM Byggholt has large needs. Cramo, on the other hand
can provide JM Byggholt access to a complete range of rental solutions all over
Norway.
- By outsourcing our rental division to Cramo we expect to lower our cost for
machinery and equipment and gain access and efficiency in the supply of
equipment to support the continued growth of our core business, says Thor Olaf
Askjer, managing director, JM Byggholt.
- Cramo's explicit goal is to be among the two leading equipment rental
companies in all the markets where it operates. This agreement with JM Byggholt
is strategic for Cramo Norway to secure that position, says Vesa Koivula, CEO of
the Cramo Group.
JM Byggholt's rental operations, located in Baerum outside Oslo, will be
integrated under the Cramo brand, creating the market leading rental operation
in that area.
CRAMO PLC
Vesa Koivula
President and CEO
Further information
Vesa Koivula, President and CEO, tel. +358 40 510 5710
Finn Lökken, Managing Director Cramo AS (Norway), +47 23 37 55 70
Distribution
OMX Nordic Exchange Helsinki
Major media
www.cramo.com
Cramo is a service company specialising in construction machinery and equipment
rental and rental-related services, as well as the 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 eleven countries
with some 300 depots. With a group staff of 2,300, Cramo's consolidated sales
for 2007 totalled EUR 496 million and its shares are listed on the OMX Nordic
Exchange, Helsinki. For further information, please visit www.cramo.com.
For more information about the Norwegian operation see www.cramo.no