Cramo is intensifying its strategic relationship with Caterpillar and introducing the worldwide 'Cat Rental Store' concept in the Group starting this autumn. The aim is to be able to satisfy the rapidly growing rental market's demands even more efficiently, with an expanded product range for the rental market and a higher level of additional services, according to Cramo's CEO. Cramo, which is already one of Europe's largest rental companies, is consequently becoming a key player in a pan-European trend. The agreement is not linked to any change in ownership.

The global market development demonstrates that customers are increasingly opting to hire machinery rather than tie up capital in them. This trend lies behind the rapid development of specialised rental companies, according to Cramo's CEO Gunnar Glifberg. It is also the reason for the growing interest in rental on the part of the machine manufacturers, where several major players have moved into the rental industry in a short space of time.
"We have been working with Caterpillar for a couple of years, and we are now intensifying this relation within the framework of the new concept," says Gunnar Glifberg. "By introducing 'Cat Rental Store' in our own operation, we are emphasising a strategy whereby we can make the best use of the skills and experiences of both the rental and the manufacturing sectors, which will lead to better and more effective solutions for our customers."
For Cramo, this link to the brand of a world leading machinery manufacturer gives additional strength in customer market segments where we are not yet well enough established. At the same time, Caterpillar gains access to our channels and customers for their product range.
One important aspect of the agreement is that Cramo will acquire a better platform to develop its business strategy, both on current and new markets. The Group also gains a strong partner for product development, which it has not previously had.
"It is very much in Caterpillar's interest to gain feedback from the market through us," says Gunnar Glifberg. "Thanks to our direct contact with the markets, Caterpillar gains better and quicker access to rental customer preferences and can develop new products."
The new Cat Rental Store concept under Cramo's name will be introduced in the Netherlands, Denmark and Norway during the autumn. The concept will be launched on Cramo's other markets in the course of next year.
General Construction, Rental & Used Manager Jose Brousset says : " With Cramo, we are in an unrivaled position to lead the rental service business in Northern Europe and to provide our customers with fast access to the solutions they need to get their work done". Jose added : "It is not by accident that Caterpillar is in the rental business through our worldwide dealer network. Customers have increasingly looked for rental services that can rely on. It is this market demand that Cramo and we are meeting. Our objective is to further increase Cramo's participation in the rental services business, continue to build our industry expertise and provide a greater choice of complementary equipment for our customers".

Maastricht, 13 September 2002
Cramo AB
Group Communication

For further information, please contact:
Gunnar Glifberg, MD and CEO of Cramo AB, tel. +46 (0)8-623 5400

Captions:
1) Cramo
Cramo, one of Europe's largest rental companies, is intensifying its relationship to Caterpillar, one of the world's leading machinery manufacturers through the introduction of the Cat Rental Store concept. Within its frame, Cramo expects to gradually extend the range of products and services for the rental market.
2) Mr Gunnar Glifberg
"Our strategic collaboration with Caterpillar is being further developed with Cat Rental Store," says CEO Gunnar Glifberg. "Cramo gets an even stronger position, both in markets where we are already well established and in new ones.

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