TTS Group buys Hamburg marine crane manufacturer NMF

JULY 6, 2012 — Bergen, Norway, headquartered TTS Group ASA has entered into an agreement to purchase Hamburg, Germany, marine crane specialist Neuenfelder Maschinenfabrik GmbH (NMF). Closing is expected to be finalized in the first half of August 2012.

Expected turnover of NMF in 2012 is EUR 88 million and over the last five years it has delivered marine cranes worth around EUR 700 million. At end May 2012, its order reserve was EUT 95 million

NMF (established in 1970) supplies marine cranes and lifting equipment in the range from small bulker cranes to super heavy lift cranes (1,000 tons). The company is the market leader for heavy-lift cranes (more than 150 tons) with a more than 60 percent market share. NMF also supplies offshore heavy-lift cranes for the wind farm industry. It has a workforce of 130 employees.

NMF will become part of existing TTS existing activities in Germany.