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.
CRAMO WILL BUY THE LARGEST EQUIPMENT RENTAL COMPANY IN THE CZECH REPUBLIC AND ENTER INTO SLOVAKIA
| Source: Cramo Oyj