North Norway targeted in Vest Kran buyout
By Euan Youdale10 May 2010
Vest Kran has acquired fellow Norwegian crane and transport services company HMKT (Henning Mortensen Kran & Transport).
Specializing in mobile cranes, HMKT was established in 1985 and is based in Tromsø, northern Norway. According to Vest Kran, based in Agotnes, southern Norway, its new stable mate is one of the biggest crane suppliers in the north of the country.
"HMKT will continue its business as usual. However, it will have access to a larger equipment park from the Vest Kran Group and can now service a greater part of the northern market," said a Vest Kran spokesman.
Vest Kran also hopes to extend the HMKT range by offering tower cranes and heavier equipment in the north. "We have had a great relationship with them [HMKT] for many years, and they have some of the most competent crane personnel in the industry. So now it is a huge bonus for us to be working together with them under the same flag," said Morten Martinessen, Vest Kran COO.
As well as expanding in size, Vest Kran will now have a more competitive edge in the north of Norway, it said. "With the increase of oil & energy activity farther north in Norway, Vest Kran wished to strengthen its position in this area. It also increases our logistics capacity to service the area between the north and the south", says Trond Emblem, Vest Kran Group CEO.
HMKT will be integrated under the Vest Kran brand name during this year.