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Fassi becomes majority owner of crane manufacturer Cranab

Fassi becomes majority owner of crane manufacturer Cranab

Fassi, one of the world’s largest manufacturers of cranes for trucks, becomes the majority owner of the Cranab group with the subsidiaries; Vimek, Bracke Forest and Slagkraft, through the acquisition of Z-forestab´s ownership stake in the company. Z-forestab, a jointly owned company by Inlandsinnovation, Mittkapital and Ekonord, has agreed to sell its stake in Cranab group. Cranab manufactures cranes for forestry equipment and is located in Vindeln outside Umeå, Sweden. Fassi is already a shareholder in Cranab group and through this deal Fassi becomes the majority owner.

Fassi becomes majority owner of crane manufacturer Cranab

Hans Eliasson, Chairman in Cranab group, is positive to Fassi’s increased holding in Cranab: “Fassi has been a shareholder in Cranab for three years and has already contributed significantly to the growth of the company. They operate on a wide international market, and the deal will give us additional growth and new business opportunities. Z-forestab has over the years played a significant role in the strengthening of the industrial cluster around Cranab group and we look forward to an even stronger cooperation with Fassi”, he comments.

“We see the joint development of a new crane product line as an important contributor of future growth in the on-road crane segment. Also, Cranab’s focus on the forestry industry, is a very good complement and an excellent market opportunity to be combined with the other product lines Fassi holds, says Giovanni Fassi”, CEO of the Fassi Group.

“I am pleased to see that Z-forestab´s efforts towards this industrial group structure now shows results”, says Lars Johansson, Chairman in Z-forestab.

Peter Gullander, CEO of Inlandsinnovation AB, majority owner of Z-Forestab, is satisfied with the industrial structure that Z-forestab and Fassi has built up around Cranab group. “It has strengthened Cranab’s global competitiveness and secured jobs in northern Sweden”, he says.

The Cranab Group includes the companies Cranab AB which manufactures cranes and grass and brushwood clearing machines, Vimek AB which manufactures small forest machines, and Bracke Forest AB which manufactures scarifiers, planting machines and felling heads. Operations are conducted in Sweden, in Vindeln outside Umeå, in the County of Västerbotten, and in Bräcke, Jämtland County.
Read more at www.cranab.se, www.vimek.se and www.brackeforest.com.

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