Kalmar has signed an agreement to acquire the business of East Coast Cranes and Electrical Contracting Incorporated (ECC), a US company specialising in crane construction services and maintenance in ports.
The acquisition boosts Kalmar’s service growth in the US and also creates a stronger platform for the company to develop its port crane business.
ECC has over 100 employees working in ports predominantly on the US East Coast and Gulf ports. In addition, the company is carrying out large-scale projects in various ports on the US West Coast, the Caribbean and in Latin America. ECC’s net sales in 2005 were close to $25 million.
Following the acquisition, the president and founder of the company Jim Anastasio will maintain his post and together with his management team and employees, will continue developing the company further. The deal will be closed in April, and the company will be operated as an independent subsidiary of Kalmar. Both parties have agreed not to disclose details of the transaction.
ECC has recently successfully refurbished and relocated three ship-to-shore cranes from New Jersey to Tampa, Florida, and one ship-to-shore crane from Jamaica to North Carolina. The company’s other projects include installing numerous radiation monitor portals in New York and New Jersey, as well as renovating seven cranes in Miami.
ECC president Jim Anastasio comments: “In order to keep growing, we needed to find a strong partner to bring in expertise and resources. I am delighted to start working with Kalmar.”