Pewag invests in LMS
By Alex Dahm13 January 2021
Load Monitoring Systems and Pewag Group announced a “strategic partnership” on 13 January.
Scotland-based LMS manufactures load measurement and monitoring systems for cranes and other applications. Austria-based Pewag is a group of companies manufacturing chain and lifting-related equipment. The value and terms of the investement were undisclosed.
Kirk Anderson, LMS managing director, said the investment in a relatively new, small, local Aberdeen business by long-established, multi-million dollar privately-owned business Pewag will allow LMS to expand overseas as a primary part of its growth plan for 2021.
“Pewag group are an established industry leader with high quality products, we are delighted with the new partnership and the investment will allow us to expand the support we currently provide our customers. By joining forces, we will introduce new high-quality products and services which will strengthen the support we can provide to both new and existing markets. The combined knowledge and experience will produce innovative world-class lifting systems for diverse global markets,” Anderson said.
Millar Kennedy, LMS sales director, added, “Sharing the same commitment for quality, safety and reliability as Pewag group, the partnership allows us to expand our global networks and well-known product brands and to continue offering exceptional customer service which is at the core of our approach to business at LMS.”
Commenting on the move Ägyd Pengg, Pewag Group managing director, said, “We were impressed by the innovative product range and highly dedicated team at LMS. With this strategic partnership and new investment, we expect to come closer to our end-customers, becoming a full-service provider for the global rigging and lifting industry. We are excited about this new partnership and are convinced that the addition of LMS’s product range to our portfolio is the right step into a digital product future providing real-time information and greater value to our customers.”
“The shareholding and collaboration will strengthen each company’s unique capabilities and will increase product portfolios to expand customer support across diverse industry sectors worldwide,” a company statement said.