Frans van Seumeren, president of Van Seumeren Group, has told Cranes Today that he intends to take the newly combined Van Seumeren and Mammoet business into public ownership through a stock market flotation. His target is an initial public offering in 2003.

He revealed that he and his family had considered floating Van Seumeren 18 months ago, but delayed moving when the possibility of acquiring Mammoet arose. The van Seumeren family owned 100% of the company until January 1999 when it sold 36.4% to venture capitalist companies. These partners have since increased their stake in the combined company – which trades under the name Mammoet – but the van Seumeren family retains the majority of the shares.

Frans van Seuemeren said he wanted to take the company public “to enable potential investors to participate in a fast growing and successfully run company and in that way securing sufficient long term funds to finance our strategic plans for strong continued expansion”.