Ronald Schad announced his resignation as president and CEO of Essex Rental Corp. Pictured in April

Ronald Schad announced his resignation as president and CEO of Essex Rental Corp. Pictured in April of 2011 are Ron DeFeo, CEO, Terex Corp., (left) and Ronald Schad, on the appointment of Essex Rental

Terex Cranes has appointed Seattle, USA-based Coast Crane Company to distribute its entire crane product line for the states of Alaska, Hawaii, Idaho and Montana, the provinces of British Columbia and the Yukon Territory, as well as Guam and the Republic of the Marshall Islands. Coast Crane, recently acquired by Essex Rental Corp., has 14 facilities servicing the West Coast.

In addition to distributing new cranes, Coast Crane operates a rental fleet of cranes and lifting equipment. In conjunction with becoming a Terex Cranes dealer, the company ordered 20 cranes from Terex. The order, with a retail value of more than $15 million, was signed the week of April 25, according to Terex. The order includes a mix of rough terrain cranes, ranging from 55-ton to 130-ton capacity, as well as crawler cranes up to 165-ton capacity. Coast Crane will offer the cranes purchased for sale or rent to their customer base.

This new order comes as part of Essex Rental Corp.'s vision to grow their business by combining the strengths of both their nationwide crawler crane rental company, according to a press release. The recent acquisition of Coast Crane brings a significant expansion to Essex Rental Corp.'s product offering, the company said.

"Our new relationship with Terex Cranes presents significant opportunities for both our businesses," said Ronald Schad, president and CEO, Essex Rental Corp. "The ability to rent Terex cranes through both Coast Crane and Essex Crane will significantly enhance Coast Crane's opportunities to provide our customers with the broad range of lifting solutions they need. In the future, Essex will look for opportunities to expand its crawler crane fleet with the full line of Terex cranes."

Frank Bardonaro, vice president and managing director for Terex Cranes in the Americas, said, "The addition of Terex cranes will provide Essex Crane and Coast Crane customers with the most complete line of lifting solutions in the USA. This new contract signals the outset of great opportunities for growing our business throughout North America. I think that we can say that we share the same excitement as Essex Rental Corp. about the future prospects of our new partnership."

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