CRAMO WILL BUY THE LARGEST EQUIPMENT RENTAL COMPANY IN THE CZECH REPUBLIC AND
ENTER INTO SLOVAKIA
Cramo has signed a letter of intent to acquire 100% of the shares of
Techniline
spol.s.r.o. (Techniline) in the Czech Republic.
Established in 1990, Techniline is today the leading equipment
rental services
company in the Czech Republic with operations also in
Slovakia. Headquartered in
Prague, the company operates modern rental fleet
through its depots in Prague,
Pardubice and Ostrava, as well as in
Bratislava and Kosice in Slovakia.
Techniline's customers include a
substantial portfolio of leading national and
international construction
companies and industrial organizations. The company
employs over 70 rental
professionals and its sales were over EUR 8 million in
2007. After the
acquisition, Techniline's key management will continue to drive
the
development of the company, and the existing operation of Cramo s.r.o in
the
Czech Republic will be integrated in Techniline.
"We are very pleased to join Cramo Group. We are sharing the same view
of rental
business development and with combined resources we can serve our
customers even
better", comments Zdenek Zilvar, President and CEO of
Techniline.
"This acquisition is perfectly aligned with
Cramo's strategy in developing the
second leg in the CEE area. Cramo will
now reach the leading position in the
rapidly growing and well developed
Czech rental market whilst also getting an
entry into Slovakia, where
rental penetration is still quite low. Techniline's
long experience and
strong customer base will support Cramo in continuing its
fast growth in
Central and Eastern Europe", says Jarmo Laasanen, Senior Vice
President of
Cramo Other Europe.
The
closing of the transaction is subject to finalizing certain technical
issues. The transaction is expected to be closed during March 2008.
CRAMO PLC
Vesa Koivula
President and CEO
Further information
Jarmo Laasanen, Senior Vice President, Cramo Plc, +358 50 500
0541
Zdenek Zilvar, President and CEO, Techniline, spol.s.r.o.,
+420 606 639 484
Distribution
OMX Nordic Exchange Helsinki
Major media
www.cramo.com
Cramo is a rental services company
specialising in equipment rental and
rental-related services, as well
as rental and sale of modular space. As one of
the industry's leading service
providers in the Nordic countries and Central and
Eastern Europe, Cramo
operates in ten countries with 268 depots. With a group
staff of 2,270,
Cramo's consolidated sales for 2007 totalled EUR 496 million and
its shares
are listed on the OMX Nordic Exchange, Helsinki. For further
information, see www.cramo.com.