IPS Cranes has announced that it has entered into a definitive agreement to acquire American & Ohio Locomotive Crane Co. (AOL Crane). According to a recent statement from AOL Crane, the merger will “enable IPS Cranes to achieve its mission to provide customers with a greater range of services that will give them the ability to sustain and maintain their fleet of American Hoist and Ohio locomotive cranes and American Hoist crawler cranes. It also will manufacture excavator bodies and offer line boring services related to locomotive crane repairs and rebuilds.”
AOL Crane is a global leader in material handling on rail for all railroads, steel plants, dock loading, the scrap recycling industries, material handling yards, railroad contractors and concrete pipe companies.
“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,” stated Jackie O’Connell, president and CEO of IPS Cranes.
North American Equipment Sales (Canada) Ltd. was the Canadian manufacturer’s sales representative for AOL Crane prior to the IPS Cranes acquisition.
“We will continue that representation in the same manner our customers have come to expect from us, but with all of the new and innovative products and services offered by IPS,” said Paul O’Shell, president and CEO for NAES Canada Ltd. NAES Canada Ltd.’s head office is located in Binbrook, Ont.
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