22.12.2008

Cramo takes control of Cramo Rentakran

Cramo the Finnish based international rental company, has bought out Rentakran’s minority shareholding in the Moscow based Cramo-Rentakran joint venture.

The joint venture was established In August 2007 with Cramo owning 75 percent and Rentakran, the Russian crane and hoist rental owning 25 percent. The idea was to offer Rentakran customers the full range of products from Cramo, from three locations. Click here to read original report

The two parties have now agreed to terminate the shareholders' agreement, with Cramo redeeming Rentakran’s shares and dropping the Rentakran name from the venture. New less formal co-operation agreements have been drawn up allowing the two companies to continue to work together.

Cramo operates from seven of its own depots in Saint Petersburg, Moscow and Yekaterinburg and will now focus on building its general rental business from these locations.