Tuesday, June 13, 2017

IPS Cranes to acquire American & Ohio Locomotive Crane Co.

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Custom crane manufacturer IPS CRANES announced that it has entered into a definitive agreement to acquire American & Ohio Locomotive Crane Co. (AOLCrane™).

IPS CRANES , based in St. Paul, Minn., says the merger "will enable [it] to achieve its mission to exceed customers' expectations and become the premier custom crane manufacturer."

IPS CRANES says the acquisition will provide customers with a greater range of services that will give it the ability to sustain and maintain its fleet of American Hoist and Ohio Locomotive Cranes and American Hoist Crawler Cranes. It will also include manufacturing of excavator bodies and line boring services related to locomotive crane repairs and rebuilds.

"We are extremely excited for this acquisition as it allows us to create the industry's broadest and deepest range of crane manufacturing, services and resources," said IPS CRANES president and CEO Jackie O'Connell.