EFH specialises in the hire of Liebherr, Wolffkran and Terex Comedil tower cranes. It also sells Terex Comedil tower cranes into the Polish market. Gastel rents hydraulic, crawler and tower cranes across Poland; handles transportation of oversized loads; manufactures prefabricated products; and erects wind farms and telecommunications structures.
The new company, Gastel Zurawie SA, will have a fleet of 195 tower cranes, 34 hydraulic cranes, three crawler cranes, and 26 transportation units, supported by a staff of 239 working across seven offices.
Financially, Gastel Zurawie will have assets totalling PLN300.4m (USD101.1m), and is expected to generate annual revenues of PLN101.4m (USD34.1M) and annual profits of PLN18.4m (USD6.2m) from 1 January, 2010.
The merger was announced by Tomasz Kwiecinski, president of the management board of Gastel, and Grzegorz Zólcik, president of the management board of EFH, in a press conference held at the Warsaw Stock Exchange.
Kwiecinski and Zólcik said the merger would create, ‘a leader in the crane hire and overnormative transportation market’. They said the two companies offer synergies in various areas, with Gastel Zurawie offering a diverse source of revenues, extensive customer service capabilities, a country-wide scope of activity and a large contact book developed over a number of years working with the likes of construction companies Skanska, Polimex Mostostal and Erbud, telecoms giants Ericsson and Orange, and wood products manufacturer Pfleiderer.
