Acquisition of “Famaba” by E-Crane/Indusign.

Acquisition of 100% of the shares of the Polish Steel Construction company “Famaba” by the Belgian harbor crane manufacturer E-Crane/Indusign.

The E-Crane Group of Companies, a leading manufacturer of cranes for handling bulk materials, has succeeded in the acquisition of the Polish company ‘Famaba’, an ISO9001 certified company with 275 employees and revenues exceeding 20 million USD/16 million EURO in the year 2011.  Another milestone in E-Crane’s ambitious business plan has been reached.

With this acquisition, E-Crane fully owns a strategic supplier of high grade steel constructions for the crane industry while at the same time, Famaba stays an important European player in the market for foundations and towers for wind turbines.

Within the E-Crane Group, Famaba will be operating as a fully independent unit. The already excellent cooperation between the E-Crane organization and Famaba will be optimized and intensified. It is expected that in the short term this will result in a substantial increase in the capacity for assembling harbor cranes in Adegem as well as important savings in several logistics processes.

This acquisition guarantees employment for E-Crane personnel at the Adegem (Belgian) assembly facility. Depending on market conditions, a further expansion is under consideration. The board and management of the E-Crane Group of Companies stay committed to keeping and even increasing employment at the Adegem facility as well as at the Dutch and US based subsidiaries despite the tough economic conditions.