New Arcomet Vest Kran joint venture
04 March 2008
SCANDINAVIA: Vest Kran Arcomet AS is a new joint venture company set up to rent and sell tower cranes in Scandinavia.
It is a 50-50 holding between Norway-based mobile crane rental house Vest Kran and Belgium-based international tower crane rental, sales and manufacturing operation, Arcomet.
The deal included a shareholding agreement of €500,000 (US$738 million) at the financial start of Vest Kran Arcomet AS. The operation became official in October 2007 but the first cranes were delivered in August.
Infrastructure and commercial construction is at an all-time high in Scandinavia. The new company is positioned to service the demand for tower crane rental, sales and service across the region. Main target customers are national construction companies, followed by a focus on smaller enterprises.
The first crane delivered was a Terex Comedil CBR 40 self erecting tower crane, for a national construction contractor based in Bergen, Norway.
Rolf Andersen, CEO of the new company based at Vest Kran headquarters in Bergen, said “Vest Kran Arcomet is going to be a major player in Scandinavia.” Erection and dismanPublishtling needs of the VKA tower cranes will be met by the Vest Kran fleet of more than 40 mobile cranes and its workforce of more than 100.