The Fassi Group has acquired more shares in Cranab, giving the Italian company complete ownership of the Swedish forestry group
Bergamo (Italy) – In 2013, Fassi became the part-owner of the Cranab Group and from then on has continued to increase its shares in the enterprise bit by bit. Now that the chairman of Cranab, Mr Hans Eliasson, is retiring after having spent 45 years with the company, the acquisition of his shares has allowed Fassi to become the full shareholder of the group, which includes the subsidiary companies Cranab, Slagkraft, Vimek and Bracke Forest.
The CEO of the Fassi Group, Giovanni Fassi, commented: “The goal is for Cranab to undergo development in terms of diversifying its product range; the introduction of forestry and refuse collecting cranes for trucks as new products being a key strategy. This, together with the further advancement of the technology of off-road cranes for forestry equipment will serve to further consolidate Cranab´s strength in this market.”
“We also aim to undertake some plans for significant development with regard to Slagkraft, Vimek and Bracke Forest,” he added.
Giovanni Fassi will succeed to the position of chairman of the Cranab Group after Eliasson. “The last 45 years with Cranab have been a rewarding and eventful journey. I can confidently say that Cranab will have a great future under Fassi ownership, with excellent opportunities to produce products which will successfully complement the established product range of popular Fassi articulated cranes,” Eliasson remarked.
Fassi is based in the province of Bergamo in the north of Italy and is one of the world’s principal manufacturers of cargo-handling cranes. Fassi’s relationship with Sweden goes back to the early 1960s, when the company started its business by importing Foco cranes and mounting them onto vehicles. The company is owned and managed by the Fassi family and continues to be a leading producer and global exporter in the loader truck crane market.
Anders Strömgren, CEO of the Cranab Group asserted: “With this latest move of Fassi’s, Cranab will be acquiring an owner with many years of experience, strong leadership and a global reach, which includes a well-organised distribution network. This is especially important for Cranab, as we would like to make our products available to customers around the world.”