Wumag restructures Elevant division

24 April 2008

Access Share Index (ASI)

Access Share Index (ASI)

A new company, Wumag Elevant GmbH, will run the three aerial platform divisions: Elevant Production in Ebersbach, for manufacturing platforms up to 45 m; Elevant Service, for service in Europe; and Elevant Finance, the new identity of Charterlift, Wumag's sales financing, used equipment and re-rentals business. Aerial platforms constitute over 60% of Wumag's €50 million group turnover.

Jürgen Schroeder, Wumag GmbH's managing director, said; “the reason [for the restructuring] is that we want to strengthen our platform business.”

Oliver Schroeder, a spokesman for the company, said the restructuring was “definitely not” part of a plan to sell off Elevant, but said it would now be easier for Wumag to attract investment in the business and to form alliances or joint ventures.

For example, Wumag is expanding its cooperation with Metz Aerials in the fire fighting sector. It already markets a 32 metre fire fighting model through Metz and plans to add 36 m and 42 m models to the range. It will enter the US rescue platform market before the end of 2006 through the US sales subsidiary of Rosenbauer, the Austria-based parent company of Metz Aerials.

Senior management at the three Elevant divisions remains unchanged, but joining the Wumag Group is Ludger Greskötter, who will be managing director of Wumag Elevant. Mr Greskotter, aged 48, lives near Wumag's Krefeld head office and has extensive experience in metal processing and most recently as managing director of a heat transfer equipment manufacturer in Germany.

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