JM Byggholt in Norway has sold its equipment rental operations

JM Byggholt, a wholly owned subsidiary of JM AB, has sold its equipment rental operations, including all rental assets, to Cramo AS. The business was transferred to Cramo in August.

The deal also includes a co-operation agreement in which Cramo will be the main supplier of all rental equipment to JM Byggholt in Norway.
By transferring the rental equipment operations to Cramo JM Byggholt plans to increase its focus on expanding further within its core area of operation – the development of residential properties.
The capital gain on the sale of the JM Byggholt rental equipment operations amounts to approximately SEK 18 million and will be reported in the third quarter of 2008.