Cramo Oyj - Company Announcement

Cramo acquires leading rental company in Western Sweden

Vantaa, Finland, 2011-06-23 13:00 CEST (GLOBE NEWSWIRE) -- Cramo Plc    Stock
Exchange Release, 23 June 2011, at 2.00 pm Finnish time (GMT+2) 

Cramo acquires leading rental company in Western Sweden

Europe's second largest equipment rental company Cramo Plc's Swedish wholly
owned subsidiary Cramo Sverige AB has acquired all shares in Tidermans
Hyrmaskiner AB and Tidermans Hyrmec AB (“Tidermans”). The combined sales of the
acquired operations was about EUR 14.2 million (SEK 130 million) in 2010 and
the number of employees is 63. 

Tidermans is one of the larger regional rental operator in Western Sweden with
four depots in Sweden's second largest city Gothenburg and one depot in nearby
Falkenberg. The company's history dates back to 1890, but today Tidermans is a
general equipment rental company. The product mix is focused primarily on tools
but includes also construction and access equipment. During over 60 years as a
rental company, Tidermans has gained a strong market position and a good
reputation within construction companies in Western Sweden. 

“This acquisition is an important part of our strategy to be a leading player
in all metropolitan areas of our home markets”, say Cramo Group's CEO Mr Vesa
Koivula. 

“This deal is an excellent strategic match” says Mr Erik Bengtsson, Managing
Director of Cramo Sweden. “Tidermans is a good complement to Cramo,
geographically as well as customer and competence wise. Our business models and
cultures are also similar and we know each other well. However, we have
complementing strengths which we can use jointly for the benefit of all our
customers.” 

All the previous owners of Tidermans stay in leading positions at Cramo after
the acquisition. 

“After many successful years as a strong and independent regional player we see
that it will improve our future expansion to be part of a larger group. Since
we complement each other geographically and have similar ways of looking at
customer service, Cramo is an ideal owner”, says one of the previous owners of
Tidermans, Mr Johan Ehk. 

CRAMO PLC

Vesa Koivula
President and CEO



Further information:

Mr Erik Bengtsson, SVP and Managing Director of Cramo Sweden, phone: +46 8 623
540 

Mr Johan Ehk, phone: +46 31 200 300

Mr Vesa Koivula, President and CEO, Cramo Plc, phone: +358 40 510 5710



Cramo is Europe's second largest rental services company specialising in
construction machinery and equipment rental and rental-related services, as
well as the rental and sale of modular space. Cramo operates in fifteen
countries with approximately 400 depots. With a group staff close to 2.400,
Cramo's consolidated sales in 2010 was EUR 500 million. Cramo shares are listed
on the NASDAQ OMX Helsinki Ltd. Further information: www.cramo.com 

Cramo Sverige AB, a wholly owned subsidiary of Cramo Plc is Sweden's leading
equipment rental supplier with over 100 rental depots and a turnover of EUR
251,9 million in 2010. Further information: www.cramo.se