Arise concludes agreement with Mammoet Wind
Mammoet Wind A/S will be acquiring Arise Kran AB’s crane and related equipment. The transfer will take place in the second quarter of the current year and will have a positive impact on earnings, which will be recognised in the same period. The parties have also signed a statement of intent under which Arise secures lifting capacity for future wind power projects.
“When we bought the crane in 2009 there was a shortage of lifting capacity for large turbines of the type that we were planning to build. Prices for lifting and assembly were high and lead times were long. Thanks to our in-house lifting capacity, we have been able to build our wind farms faster and at a lower price than if we had sourced the same service externally,” Mats Olofsson, Managing Director of Arise Kran AB, says.
“Having our own crane has given us valuable experience of lifting, assembly and transport of turbines – an experience that we will take with us and have use of also in future projects. Now, having concluded an agreement with Mammoet Wind A/S, one of the world’s largest crane companies, we no longer need to have our own lifting capacity,” Mats continues.
”We are pleased to enter into a long-term cooperation with Arise, focused on building future wind power plants” John Hartvig Larsen, Managing Director of Mammoet Wind A/S, says, adding, “We are confident that Mammoet Wind as a global solution provider focused on driving down cost of renewable energy in a safe and sustainable way, will be a valuable partner for Arise and future projects”
Halmstad 20 May, 2015
ARISE AB (publ)
For further information, please contact
Mats Olofsson, Managing Director Arise Kran AB, +46 705 094 652
John Hartvig Larsen, Managing Director Mammoet Wind A/S, +45 51 56 90 93
The information contained herein constitutes information which Arise AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 09.00 a.m. on 20 May 2015.
Arise is one of Sweden's leading wind power companies with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ OMX Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone 46 (0)35 20 20 900, corporate id .no. 556274-6726