Kalmar has signed an agreement to acquire the business of East Coast Cranes and Electrical Contracting Incorporated (ECC), a US company specialising in crane construction services and maintenance in ports.
The acquisition boosts Kalmar's service growth in the US and also creates a stronger platform for the company to develop its port crane business. Furthermore, it is a step forward for Kalmar to strengthen its presence and capacity to service other types of port equipment in the country.
ECC has over 100 employees working in ports predominantly on the US East Coast and Gulf ports. In addition, the company is carrying out large-scale projects in various ports on the US West Coast, the Caribbean and in Latin America. ECC net sales in 2005 were close to $25 million.
Following the acquisition, the President and founder of the company James (Jim) Anastasio will maintain his post and together with his management team and employees, will continue developing the company further. The deal will be closed in April, and the company will be operated as an independent subsidiary of Kalmar. Both parties have agreed not to disclose details of the transaction.
ECC has recently successfully refurbished and relocated three ship-to-shore cranes from New Jersey to Tampa, Florida, and one ship-to-shore crane from Jamaica to North Carolina. The company other projects include installing numerous radiation monitor portals in New York and New Jersey, as well as renovating seven cranes in Miami.
ECC President Jim Anastasio comments:
In order to keep growing, we needed to find a strong partner to bring in expertise and resources. I am delighted to start working with Kalmar.
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Press information can be found on Kalmar's website: www.kalmarind.com. Simply click on News Room to be taken to a list of recent press releases or on Press Pictures to be taken to the Kalmar photo gallery.
Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. It is the world's leading supplier of cargo handling equipment to ports, terminals and intermodal facilities.
Every fourth container or trailer transfer at terminals around the world is handled by a Kalmar machine. The company also supplies a wide range of machines to demanding industrial customers for applications as diverse as handling steel and paper to shunting road trailers at distribution hubs.
Kalmar is also leading the way in port automation applications with its application of unmanned container handling technology, on-board smart features and remote maintenance products developed in co-operation with customers and partners.
Kalmar's product range is complemented by a large range of value added services such as maintenance contracts and fleet management. Production plants are situated in Sweden, Finland, the Netherlands, Malaysia, China and the USA. Kalmar net sales were EUR 1,147 million in 2005.
The acquisition boosts Kalmar's service growth in the US and also creates a stronger platform for the company to develop its port crane business. Furthermore, it is a step forward for Kalmar to strengthen its presence and capacity to service other types of port equipment in the country.
ECC has over 100 employees working in ports predominantly on the US East Coast and Gulf ports. In addition, the company is carrying out large-scale projects in various ports on the US West Coast, the Caribbean and in Latin America. ECC net sales in 2005 were close to $25 million.
Following the acquisition, the President and founder of the company James (Jim) Anastasio will maintain his post and together with his management team and employees, will continue developing the company further. The deal will be closed in April, and the company will be operated as an independent subsidiary of Kalmar. Both parties have agreed not to disclose details of the transaction.
ECC has recently successfully refurbished and relocated three ship-to-shore cranes from New Jersey to Tampa, Florida, and one ship-to-shore crane from Jamaica to North Carolina. The company other projects include installing numerous radiation monitor portals in New York and New Jersey, as well as renovating seven cranes in Miami.
ECC President Jim Anastasio comments:
In order to keep growing, we needed to find a strong partner to bring in expertise and resources. I am delighted to start working with Kalmar.
Note to editors:
Press information can be found on Kalmar's website: www.kalmarind.com. Simply click on News Room to be taken to a list of recent press releases or on Press Pictures to be taken to the Kalmar photo gallery.
Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. It is the world's leading supplier of cargo handling equipment to ports, terminals and intermodal facilities.
Every fourth container or trailer transfer at terminals around the world is handled by a Kalmar machine. The company also supplies a wide range of machines to demanding industrial customers for applications as diverse as handling steel and paper to shunting road trailers at distribution hubs.
Kalmar is also leading the way in port automation applications with its application of unmanned container handling technology, on-board smart features and remote maintenance products developed in co-operation with customers and partners.
Kalmar's product range is complemented by a large range of value added services such as maintenance contracts and fleet management. Production plants are situated in Sweden, Finland, the Netherlands, Malaysia, China and the USA. Kalmar net sales were EUR 1,147 million in 2005.
Kalmar is part of Cargotec Corporation, the world leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. In 2005 Cargotec net sales exceeded EUR 2.3 billion. Cargotec class B shares are listed on the Helsinki Stock Exchange.
For further information:
For further information:
aija.kalander@kalmarind.com