19.05.2008

Cramo adds in S. Sweden

Cramo Sverige, the Swedish subsidiary of Finland’s Cramo, has signed a letter of intent to acquire GMM Hyrservice of Lund, north of Malmö. The final agreement is conditional on remaining details being solved, and is planned to complete on 1 June 2008.

GMM Hyrservice rents building machinery, aerial lifts, and compact
Machinery, with a customer base made up of small to medium sized construction companies. The annual revenues are around €1.5 million with six employees.

"The acquisition is a very good complement to our present operation in Lund", said Göran Larsson, regional manager for Cramo Sverige's southern region. The acquired operation will be integrated into Cramo's operations as soon as possible.

All employees in GMM Hyrservice have been offered an equivalent job within Cramo and the management will remain with the company for a minimum period of three years.