Lambertsson gets more autonomy
18 March 2008
Swedish rental company Lambertsson has become part of a new publicly listed Peab Industri business following the separation of Peab into two public companies.
Peab Industri now comprises the Lambertsson rental business as well as Peab's asphalt, concrete production, aggregate and transport divisions.
The Peab main construction contracting business - which is Lambertsson's biggest single customer, representing around 70% of its revenues - is now a separate company.
IRN understands that Lambertsson has a five-year supply agreement with Peab. Benny Andersson, manager of the machinery rental division within Lambertsson Sweden, said the change in ownership would help Lambertsson become a more competitive organisation, capable of winning more external business. However, he said; “Our target is to keep Peab as a big customer as well - that is very important.”
Lambertsson operates in Sweden, Finland and Norway and, in addition to the general equipment division, has crane and power rental activities. The flotation prospectus for Peab Industri said the priorities for Lambertsson would be organic growth alongside its sister businesses as well as complementary acquisitions in Nordic markets, including “specific plans to increase the presence in both Norway and Finland.” The prospectus also said Lambertsson would strengthening its power rental operation.