Fassi becomes majority owner of Cranab

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Fassi, one of the world’s largest manufacturers of cranes for trucks, becomes the majority owner of the Cranab group with the subsidiaries – Vimek, Bracke Forest and Slagkraft. Cranab manufactures cranes for forestry equipment and is located in Vindeln outside Umeå, Sweden. Fassi is already a shareholder in Cranab group and through this deal Fassi becomes the majority owner.

“Fassi has been a shareholder in Cranab for three years and has already contributed significantly to the growth of the company. They operate on a wide international market, and the deal will give us additional growth and new business opportunities”, said Hans Eliasson, Chairman in Cranab group.
“We see the joint development of a new crane product line as an important contributor of future growth in the on-road crane segment. Also, Cranab’s focus on the forestry industry, is a very good complement and an excellent market opportunity to be combined with the other product lines Fassi holds, says Giovanni Fassi”, CEO of the Fassi Group.

The Cranab Group includes the companies Cranab AB which manufactures cranes and grass and brushwood clearing machines, Vimek AB which manufactures small forest machines, and Bracke Forest AB which manufactures scarifiers, planting machines and felling heads.