The Norwegian Competition Authority had no objection to the takeover, and the final agreement was signed on Tuesday 23 August 2011. The transaction has effect from 1 January 2011.
 

TO Bull AS has for many years been the largest mobile crane operator in the Oslo area. T. O. Bull’s crane and transport business consists of 190 employees and 160 mobile cranes / crane truck / tractors. The business continues as before with all its contracts, agreements and obligations set in T. O. Bull AS. The company’s concrete pump business is not part of the agreement. This activity is carried on by Tom Ola Bull.
 

Petter Brovold has been appointed General Manager in TO Bull AS. Mr. Brovold was recently the CEO of Europris, and has acceded to the position with effect from 23 August. He has also worked as Managing Director of ASKO Øst and has been responsible for market areas of catering and service trade in NorgesGruppen.
 

After the acquisition, Nordic Crane Group AS is the leading player within mobile cranes services and special transport in Scandinavia. The markets are construction, petroleum / industry, wind power and transport.
 

Nordic Crane Group operates from Malmö in the south of Sweden to Hammerfest in the north of Norway.  600 employees will make a turnover of 150 million EUR in 2011. The company is equally owned by the families Kynningsrud and Stangeland through their companies Kynningsrud Holding AS and TS Eiendom AS.

For further information, please contact:
CEO, Nordic Crane Group AS, Trond Helge Skretting - mob +47 951 96 960
Chairman of the Board, Nordic Crane Group AS, Harald Kynningsrud - mob + 47 900 57 570