12.07.2016

Fassi takes control of Cranab

Italian loader crane manufacturer Fassi has gained a majority holding in Swedish manufacturing group Cranab, including its subsidiaries Vimek, Bracke Forest and Slagkraft.

It has managed this by acquiring Z-forestab's stake in Cranab and adding it to the shares that it already owns in in the company. Z-forestab is jointly owned by Inlandsinnovation, Mittkapital and Ekonord.

The Cranab group includes Cranab which manufactures cranes and grass and brushwood clearing machines, Vimek which produces small forestry machines, and Bracke Forest which manufactures scarifiers, planting machines and felling heads. Production facilities are located in Vindeln, near Umeå, Västerbotten, 700km north of Stockholm. The company was founded in 1963 by brothers Rune and Allan Jonsson.
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A Cranab forestry crane

Chief executive Giovanni Fassi said: “We see the joint development of a new crane product line as an important contributor of future growth in the on-road crane segment. Also, Cranab’s focus on the forestry industry, is a very good complement and an excellent market opportunity to be combined with the other product lines Fassi holds”.

Cranab chairman Hans Eliasson added: “Fassi has been a shareholder in Cranab for three years and has already contributed significantly to the growth of the company. They operate on a wide international market, and the deal will give us additional growth and new business opportunities. Z-forestab has over the years played a significant role in the strengthening of the industrial cluster around Cranab and we now look forward to an even stronger cooperation with Fassi”.