Tadano completes acquisition of distributor Cranes UK
Cranes manufacturer Tadano Ltd has completed its acquisition of Cranes UK, its product distributor in the UK, according to Vertikal. The financial terms of the transaction were not disclosed in the said report.
Tadano said of the deal: "The UK and Ireland are very important markets for Tadano, and it is our commitment as a manufacturer to ensure support for our products and customer base in the UK and Ireland. Furthermore, the integration of the UK operations into the Tadano network ensures continuation and access to all company resources in order to develop its products and continue to improve support given to customers and users."
Under the terms of the acquisition deal, Cranes UK's name has now been changed to Tadano UK. In addition, the directors of the new entity will be based in the UK, the report added.
Regarding business policies and strategies, Cranes UK will not be implementing any changes. Still, the company expects some of the processes between the two firms to be simplified as part of the integration. The new company will also continue to pursue its expansion plans to keep up with the increasing population of Tadano cranes in the UK and Ireland, Vertikal reported.