Key events of the year
Two business divisions
In the beginning of the year, we divided our operations into two stand-alone business divisions, Equipment Rental and Modular Space (Cramo Adapteo). This enables us to develop and grow both businesses optimally based on their own specific startingpoints. Philip Isell Lind af Hageby was appointed Executive Vice President, Modular Space.
However, the modular space business has limited operational synergies with the equipment rental business. That is why, also in line with the Shape and Share strategy, Cramo has decided to further investigate and assess the potential separation of the Modular Space business division. This assessment of different strategic alternatives, will be carried out in 2018.
Cramo focuses on modular space business in Denmark
In August, Cramo divested all its assets in Danish Equipment Rental operations to Loxam S/A. The divestment is in line with Cramo’s new strategy, which is aimed at strengthening its position in markets where the company has a market-leading potential. In Denmark, Cramo now focuses on the modular space business.
To strengthen its position in the market, Cramo acquired the assets of the modular space company Just Pavillon A/S in June. The acquisition provides support for gaining a larger market share in the growing Danish modular space market. The product range acquired consists of 360 modular units mainly used in the school and office segments. Just Pavillion’s offering complements Cramo’s fleet well, and its premium module type is recognised as one of the best in the market and is highly valued by customers.
in everything we do
To further strengthen a sustainability perspective in all our operations and decision-making, the updated sustainability platform – Cramo Care – was rolled out through the new Cramo Care Managers organisation. In addition, as part of our responsibility work concerning our suppliers, we affirmed our Supplier Code of Conduct and began its implementation throughout the supplier chain.
Operations divested in Latvia and Kaliningrad
Cramo divested its operations in Latvia and Kaliningrad by selling the share capital of its operative companies in the equipment rental business, SIA Cramo and Cramo Kaliningrad OOO, to AS Storent Investments. The transaction, completed in August, included all the assets and liabilities of the two companies. Cramo’s 39 employees continue in the employment of the companies. In the future, Cramo will focus on markets where it can gain a leading position and achieve long-term profitable growth.
Positioning Cramo as a trusted advisor
In order to enhance its competitiveness through a strong and engaging brand, Cramo has launched a new brand platform. The new brand is designed to express more clearly what Cramo is and what it stands for, and to distinguish the company from its competitors, raise customer awareness and, as a result, add value to our business. A stronger human perspective and a clear emphasis on our customers' end results – some of the main elements in the new brand expression – are communicated both visually and verbally. Through harmonised brand expression implemented across all communication channels, we aim to position Cramo as a trusted advisor among our customers and other stakeholders.