“The Russian and Ukrainian markets offer significant growth potential for equipment rental and through the joint venture we have a strong foundation to invest for accelerated growth. Combining our efforts, we will be able to present a compelling value proposition for both new and current customers, to further develop the rental industry as a whole in these markets”, says Mr Magnus Rosén, President and CEO of Ramirent Plc. 

“For a few years it has been evident that Russia and Ukraine are in the early phase of developing a modern rental industry. The construction market is huge, and the momentum is significant. Taking the lead in the rental industry offers interesting opportunities, but also big challenges. The combined resources of our already successful businesses give us a clear head start and a unique platform for a long-term commitment in Europe’s most interesting region”, says Mr Vesa Koivula, President and CEO of Cramo Plc. 

Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions that simplify business. The Group serves a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2011, the Group’s net sales totalled EUR 650 million. The Group has 3,100 employees at 379 rental outlets in 13 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki.

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services, as well as the rental and sale of modular space. Cramo operates in fourteen countries with over 400 depots. With a group staff close to 2,700, Cramo’s consolidated sales in 2011 was EUR 680 million. Cramo shares are listed on the NASDAQ OMX Helsinki Ltd.

Back to transactions