Kalmar buys US crane company

News Story
- 23 Mar 2006 ( #252 ) - STOCKHOLM, Sweden
1 min read
Kalmar is expanding its US crane service and maintenance business with the acquisition of East Coast Cranes & Electrical Contracting Inc (ECC).

In a statement, Kalmar said it had signed an agreement to buy the specialist crane construction services and port maintenance company.

The acquisition was expected to boost Kalmar's service growth in the US and create a stronger platform for it to develop its port crane business, Kalmar said.

"It is a step forward for Kalmar to strengthen its presence and capacity to service other types of port equipment in the country."

ECC has more than 100 employees working mainly on the US east coast and in gulf ports. The company currently has projects in ports on the US west coast, the Caribbean and in Latin America. Its 2005 net sales were USD25 million.

The deal, to be finalised in April, will see ECC president and founder James Anastasio maintain his post together with his management team and employees. ECC will be an independent subsidiary of Kalmar.

Both parties agreed not to disclose details of the transaction.
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