Cramo Oyj - Company Announcement

The acquisition of Theisen Baumaschinen AG and the conditional directed share issue have been completed

Vantaa, Finland, 2011-01-31 16:00 CET (GLOBE NEWSWIRE) -- Cramo Plc   Stock
Exchange Release 31 January 2011, at 5.00 pm Finnish time (GMT+2) 

The acquisition of Theisen Baumaschinen AG and the conditional directed share
issue have been completed 

Cramo Plc ("Cramo") announced on 11 January 2011 that it had signed an
agreement to acquire the entire share capital of a German-based company Theisen
Baumaschinen AG ("Theisen") and on 31 January 2011 that the Board of Directors
of Cramo had resolved on a conditional directed share issue to the shareholder
of Theisen, Arrex Beteiligungs-GmbH, as a part of the consideration in the
acquisition of Theisen. The transaction has today been closed and Theisen has
been transferred to Cramo's ownership. 

The conditional share issue of 374,532 new shares in Cramo directed to Arrex
Beteiligungs-GmbH has been completed in accordance with its terms and
conditions and Arrex Beteiligungs-GmbH has subscribed and paid for the shares.
The new shares are estimated to be registered into the Trade Register and
listed and admitted to trading on the main list of NASDAQ OMX Helsinki Ltd
together with the existing shares in Cramo by 20 February 2011. The new shares
are subject to a lock-up arrangement pursuant to which 50 per cent of the
shares issued in the share issue may not be transferred during a period of one
year from the closing of the transaction and the remaining 50 per sent of the
shares may not be transferred during a period of two years from the closing of
the transaction. 

CRAMO PLC

Vesa Koivula
President and CEO


Further information
Vesa Koivula, President and CEO, Cramo Plc, tel: +358 40 510 5710
Martti Ala-Härkönen, CFO, Cramo Plc, tel: +358 40 737 6633


Distribution
NASDAQ OMX Helsinki Ltd.
Major media
www.cramo.com


Cramo is a service company specialising in construction machinery and equipment
rental and rental-related services, as well as the rental and sale of modular
space. As one of the industry's leading service providers in the Nordic
countries and Central and Eastern Europe, Cramo operates in fifteen countries
with approximately 400 depots. With a group staff close to 2.400, Cramo's
consolidated sales for 2009 was EUR 450 million and Cramo shares are listed on
the NASDAQ OMX Helsinki Ltd. For further information, please visit
www.cramo.com.