Crane sale

The Man Group has sold its tower crane sales and hire subsidiary Man Wolffkran to a private German-Swiss investment group, headed by Dr Peter Schiefer and Dr Ans-Peter Koller, for an undisclosed sum. The company, which generated sales of € 35 million in 2004 and employs 200 people, will operate under the Wolffkran name. The sale has been backdated to 1 January 2005 and will enable Man to concentrate on its core truck and engine businesses.