Vantaa, Finland, 2017-12-21 19:00 CET (GLOBE NEWSWIRE) -- Cramo Plc Stock Exchange Release 21 December 2017 at 20.00 pm (EET)
Cramo Group assesses strategic alternatives for its Modular Space (Cramo Adapteo) business
In line with Cramo Group’s strategy “Shape and Share”, a key focus area has been to clarify and make Equipment Rental and Modular Space product areas more autonomous business divisions. The Board of Cramo Group has decided to further investigate and initiate a process to assess the potential separation of the Modular Space business division into its own legal entity. The Modular Space business has limited operational synergies with regards to business model and customers with Cramo’s Equipment Rental operations.
This assessment of different strategic alternatives will be carried out during 2018 and includes a potential demerger and separate listing of Cramo Adapteo.
The Modular Space business had sales of EUR 118 million and EBITA of EUR 31 million in 2016.
President and CEO
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 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.