UK crane rental company Baldwins Crane Hire has expanded its fleet of mobile cranes using a finance agreement with Siemens Financial Services (SFS).

Baldwins has acquired a 500 tonne capacity Liebherr LTM 1500-8.1 wheeled mobile telescopic crane on a seven year finance lease of approximately GB£2.6 million (US$ 3.9 million). The agreement follows another finance lease deal made with SFS in July this year for three Nooteboom trailers costing GB£340,000 ($510,000).

Richard Baldwin said, “With the financial support of SFS we are able to grow our crane fleet’s profile in order to meet the diverse needs of our customers as well as to expand our business. We are more than pleased with the competitive funding, excellent services and the efficiency of the account team at SFS.”

Brian Foster, head of industry at SFS, said, “Because of our industry experience and our in-depth understanding of the market, we are able to accurately evaluate the quality of the financed asset, in particular in large transactions, thereby providing customers with a competitive financing package that not only enables their investment, but also optimises their cash flow. We have already supported Baldwins on the acquisition of mobile cranes in the past and are delighted to further our cooperation.”

The 8-axle LTM 1500-8.1 has an 84 metre 7-section telescopic boom with maximum reach of 91 m when configured with a lattice jib. The crane will join two more LTM 1500-8.1s already in the fleet.

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