Business
Danish crane giant for sale
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March 13th, 2014
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This article is more than 9 years old.
The owners of Højbjerg Maskinfabrik plan to sell the company after the best results in its history
The owners of the Danish crane giant Højbjerg Maskinfabrik has announced that its plan to sell the company this autumn after doubling its yearly earnings from 24.6 million kroner in 2012 to 52.6 million in 2013. This is the best result in the company’s history, according to Børsen.
“There has to be found a new owner that has the economic muscles to realise the company’s potential," said Kim Buchwald, the company's board chairman. "We don’t have that now."
Søren Nørbjerg, a partner at property sales experts Advizer, reckons the company could fetch as much as 700 million kroner.
Sale to wait until autumn
Kim Buchwald, a board member of Højbjerg Maskinfabrik, wants to wait until the autumn as he expects the surplus to climb by 50-100 million kroner. He also expects the yearly earnings to amount to 70-75 million kroner by the end of this year.
Drastic turnaround
This is a drastic turnaround for a company that nearly went bankrupt four years ago. Since then it has focused on the crane industry and is presently the fourth largest player in the Danish market.
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