New market leader in Scandinavia
By Alex Dahm20 May 2008
Two Scandinavian mobile crane rental companies have merged to become what they claim is the region's market leader.
Kynningsrud Crane and Stangeland will join under the co-owned holding company Nordic Crane Group AS, but both companies will continue to operate under their respective names and management.
Kynningsrud is primarily positioned in the construction, wind and petrochemical markets in the eastern part of Norway and in Sweden. Stangeland mainly works in the oil and gas market, as well as construction and industrial projects along the coast of Norway.
"A joint depot and organisation will increase execution capabilities and the capacity to serve both new and existing clients. In addition, scale benefits will drive cost improvements," said a spokesperson for the group, which will operate nearly 300 cranes.
Apart from the cranes, all other segments of the two companies will not be affected by the deal.