Vantaa, Finland, 2017-12-01 08:00 CET (GLOBE NEWSWIRE) -- Cramo Plc Stock Exchange Release 1 December 2017 at 9.00 am (EET)
Cramo and Ramirent are exploring strategic options for their Russia and Ukraine-based joint venture company Fortrent
Cramo and Ramirent are exploring strategic options for their equally-held joint venture company Fortrent that could include a sale of the joint venture company. Fortrent is a leading equipment rental service company in the Russian and Ukrainian markets. Fortrent was formed in March 2013 between Cramo and Ramirent.
Fortrent had annual net sales of EUR 29.2 million with an EBITA of 3.2 million in 2016. As the strategic review is at its early stages, no further details can be disclosed at this stage.
President and CEO
Mr Aku Rumpunen, CFO, Cramo Plc, tel: +358 40 556 3546
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 about 300 depots in fourteen countries. 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.