BMS and Kran Ringen merge

Danish crane hire company BMS and access platform specialist Kran Ringen have merged, consolidating 110 cranes, 400 access platforms and 300 employees under the BMS name.

The crane company now has an equity base of more than E20m, it said. Annual turnover is estimated to be more than E50m. Already the largest Scandinavian crane rental company, BMS is now even bigger. 'The crane rental market has seen prices drop over the last three to four years, at the same time that spending in the construction and housing industries has significantly decreased,' the company said. 'By merging the two companies, we are now gaining a size that allows us to handle the challenges we are facing right now and expect to meet in the years ahead,' BMS managing director Soeren Jansen said in a statement. BMS shares will be 'equally owned' by MT Højgaard, the owner of BMS, and the family group that owned Kran Ringen.

November 2004 in