An investment of FF80m ($11m) in new cranes and two acquisitions is helping French industrial services contractor Foselev grow to record levels.
In 1999 it increased turnover by 22% to FF451m ($63m) and net income rose by 30% to FF25m ($3.5m). Crane hire accounts for 40% of the business.
Foselev has a fleet of 160 mobile cranes as well as aerial platforms up to 60m and temporary modular buildings. It also works in petrochemical installation and maintenance and industrial installation turnkey projects.
The company acquired crane hire companies Fal Industries of Paris in April 1999 and Normandy-based Robin Entreprises in March 2000.
Foselev expects its crane rental turnover to rise 24% this year to FF225m ($31.2m) in 2000. It now plans to expand its operations across Europe and already has turnkey operations in Germany, Spain and Italy.
• Leading French crane hire company Mediaco has bought a Moroccan company, now called Maroc MediacoMetaux. It operates cranes up to 150t in capacity and special transporters up to 300t.
