Keeping tabs22 November 2008
There will be more from yesterday's LiftEx event, the UK's annual one-day exhibition for the lifting industry, both online and in print in due course. But first, a round-up of some interesting activity regarding sell-outs and acquisitions, as covered on the Hoist website over the past week or so.
Konecranes has expanded its machine tool service (MTS) activities with the acquisition of three companies in the UK.
Lincoln-based K&B Europe Ltd., with its subsidiary K&B Machine Tool Services Ltd., in the East Midlands was acquired in July; Electron Service Ltd., with headquarters in Walsall in central England, was acquired at the end of October; and the assets of Machine Tool Services (GB) Ltd. in Lewes, southern England, were acquired at the beginning of November.
Fellow Scandinavia firm Erikkila, meanwhile, has acquired Lithuanian lifting equipment company UAB Odvila.
The company has four employees and a turnover of approximately EUR650,000.
The seller was Danish Fyns Kran Udstyr, a supplier of lifting gear, steel wire and fibre ropes, hoists and cranes.
The value of the acquisition was not disclosed. After the acquisition the company name will be changed to Erikkila UAB.
Finally, across the pond, Delta Rigging & Tools has acquired Kelly Wire Rope. Kelly employs 35 full-time employees and all are expected to remain with the company.
The acquisition of Kelly establishes Delta Rigging as the dominant provider of wire rope and rigging throughout Texas, it said. The acquisition is its sixth in the last three years.
Kelly Wire Rope is based in Pasadena, Texas, with additional locations in Odessa and Fort Worth. Kelly specialises in the fabrication and distribution of wire rope, wire rope slings, synthetic slings, rigging hardware and chain.
It's interesting how the economic situation has prompted such activity in the marketplace. Future acquisitions and takeovers will be revealed here first as and when they happen, wherever they happen.
Hoist remains the only international factory crane magazine, bringing you the latest news, product finder, reference information and more covering bridge cranes, jib cranes, chain hoists, wire rope hoists, blocks, end-of-line attachments, components and the installation, maintenance, training, consultancy and trade associations surrounding this equipment.
Blog by Richard Howes, Editor