AmQuip not interested in Maxim

24 April 2008

Following the news in July that Maxim Crane Works is exploring options that could include a sale of the business, AmQuip has ruled out the possibility of bidding for the company.

In 2004 AmQuip offered $325 million to buy Maxim, which was in Chapter 11 Bankruptcy protection at the time. AmQuip general manager Frank Bardonaro said, “We have zero interest in any of the Maxim company in its present condition. As you know, we made a strong run at it during their last bankruptcy, but don't believe the selling of assets and losses of key people that has transpired since then has made them a viable play for AmQuip or any other family-owned business. Paying the lawyers and financial institutions who own and manage Maxim today's prices for their assets would not be the type of strategy that we would explore at this time.”

Since the unsuccessful bid for Maxim in 2004, AmQuip has invested more than $60 million in its tower crane fleet and formed a strategic alliance with Elliott Crane Rental in Tennessee. “We believe that we have positioned ourselves very well to cover the markets that we serve, and our organic growth along with some very key partnerships and acquisitions have us pretty much where we want to be at this time”said Bardonaro.

Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Bigfoot Construction team joins outrigger committees
Jeff Steiner has joined the SC&RA outrigger pad resource task force, and he and his nephew, Eric Steiner, are members of the P30 standards outrigger pad subcommittee. 
Talbert celebrates anniversary of detachable gooseneck
First introduced in 1962, the hydraulic detachable gooseneck technology revolutionized safety in the trailer industry.
Sarens performs critical installation at nuclear site
The Tennessee Valley Authority (TVA) initiated a major nuclear refueling and maintenance outage so that four replacement steam generators could be installed at the Watts Bar nuclear plant.
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail:
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: