Vantaa, Finland, 2017-08-31 17:00 CEST (GLOBE NEWSWIRE) -- Cramo Plc Investor News 31 August 2017 at 6.00 pm (EET)
Cramo completes the divestment of its Danish Equipment Rental operations
Cramo Group has, following the fulfilment of the conditions for closing, closed the divestment of its Danish equipment rental operations to Loxam A/S. Cramo Group will thereby focus its business in Denmark on Modular Space.
The transaction is an asset deal in which all assets belonging to Cramo’s Equipment Rental operations in Denmark, including rental equipment, inventory, customer contracts and depot premises lease contracts, are acquired by the buyer. In 2016, sales of Danish Equipment Rental operations amounted to DKK 149 million (EUR 20 million) and comparable EBITA DKK 4.6 million (EUR 0.6 million).
Further information on the transaction has been disclosed in a stock exchange release on 14 July 2017.
President and CEO
Mr Leif Gustafsson, President and CEO, tel: +358 10 661 10
Mr Aku Rumpunen, CFO, tel: +358 10 661 10, +358 40 556 3546
Mr Mattias Rådström, SVP, Communication, Marketing and Investor Relations, tel: +46 70 868 7045
Nasdaq Helsinki Ltd.
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in fourteen countries and in 298 depots. With a group staff around 2,600, Cramo's consolidated sales in 2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd.
LOXAM is the leading equipment rental Company in Europe with unaudited proforma consolidated revenue of €1330 million in 2016 and approximately 7,400 employees. LOXAM’s network of more than 740 branches extends over 12 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Portugal, Luxemburg, the Netherlands, Denmark and Norway) as well as in the Middle East, Morocco and Brazil.
Read more: www.loxam.com