29.11.2017

Fassi takes 100% of Cranab

Italian loader crane manufacturer Fassi has acquired the rest of the shares in the Swedish companyCranab that it does not already own.

Fassi acquired a minority interest in Cranab, which manufactures timber cranes and grapples in late 2013, See Fassi acquires stake in Cranab and then two and half years later the company increased its stake to become the majority shareholder. See Fassi takes control of Cranab.
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A Cranab forestry crane

It has now acquired the shares, which were held by Cranab chairman Hans Eliasson, giving it 100 percent of the company’s equity. The Cranab group includes Cranab, Vimek and Bracke Forest.

Chief executive Giovanni Fassi said: “Our ambition is to develop Cranab to become a crane supplier with a wider product range, in which truck mounted timber and recycling cranes become new products. The continuous development of off road cranes for forest machines will further improve Cranab´s already strong position. With Slagkraft, Vimek and Bracke Forest we will fulfil the ambitious development plans we already have.”

Eliasson will now relinquish the chairmanship of the Cranab group to Giovanni Fassi who will take over the role. Eliasson said: “I have had a long and exciting journey with Cranab over the last 45 years. My definite opinion is that Cranab will have great opportunities in the future under Fassi ownership. Fassi´s ambitions are that Cranab will develop, produce and sell cranes that support and complement Fassi’s successful existing product range of cranes for cargo handling.”

Cranab chief executive Anders Strömgren added: “In Fassi Cranab is getting a long term industrial owner with a focused leadership and a solid knowledge of the crane market. The most important synergies are that Cranab has products which complement those that Fassi already has, and that Fassi has a well-