The owners of Nordic Crane Group in Scandinavia have split the company. Kynningsrud AS and Stangeland Gruppen AS were 50:50 owners of Nordic Crane Group, established in 2008, since when they have doubled the Group’s turnover.
With effect from 1 July Kynningsrud has acquired the businesses in eastern Norway and everything in Sweden through parent company Nordic Crane Kynningsrud AS. Stangeland Gruppen has acquired the businesses in southern, western, central and Northern Norway through parent company Nordic Crane Stangeland AS.
The business will be split approximately 50:50 in terms of sales volume and employees. Annual sales at each of the two companies will be around NKR 600 million (US$ 70 million) and around 300 people.
In a joint statement the owners said that despite strong growth, synergies were not the way they wanted and geographical distance contributed to the fact that Nordic Crane Group did not make the best use of resources.