20.07.2007

Polish company expands

EFH Zurawie Wiezowe, the publicly quoted tower crane rental company is issuing 2.4 million new shares in order to raise PLN 41 million (£7.4 million) to buy new cranes for its rapidly growing fleet.

This is the second issue of new shares by EFH this year “Just after the first issue, we understood that the needs are much bigger. Hence the decision about another issue”, said CEO Grzegorz Zolcik.

The fleet has already expanded from 44 cranes to 80 this year, the company plans to order a further 40-50 this year.

EFH is currently Poland’s second largest tower crane company in units terms, and has clearly set its sights on being market leader. It is forecasting a fleet of 200 cranes by 2009.

The current EFH fleet is made up of Liebherr and Wolff, but it has also added Terex Comedil cranes this year.