05.02.2003

Gleason Cranes to close its doors

US based crane distribution and rental company Gleason Cranes is shutting its doors after 50 years in business, as its debt structure became unmanageable.

The company's owners and directors decided to cease operations and close its doors rather than file for Chapter 11 bankruptcy protection. All employees have been let go while Bob Gleason and his son in law Phil Rice remain on board to wrap up the business.

Gleason has been a leading distributor for Grove for more than 30 years. Grove has taken out the spare parts inventory and moved it to North Central Crane, the Manitowoc company store in Chicago. Bob Hixon, Grove vice president for North American crane sales, said no decision had been taken on whether North Central would be given the Grove account.

Hixon said that Grove had not taken back any cranes as these belonged to finance houses.