Nordic Business Report-September 26, 2006-Midway Holding AB divests Kranor AS
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The Swedish holding company Midway Holding AB said on Monday (25 September) that it has agreed to sell its Norwegian cranes and lifting equipment supplier Kranor AS to Lambertsson Norge AS.
Kranor sells and rents cranes, cargo and personnel lifting systems and equipment, platforms, radio control systems and anti-collision systems. The company has 35 employees and reported a turnover of SEK190m in 2005.
The exact sales price was not disclosed, but Midway Holding said that the transaction will result in a sales gain of SEK122m.
The proceeds from the deal will enable Midway Holding to erase its net debt, currently at SEK135m.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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