Construction, Latvia, Markets and Companies, Mergers and take-overs, Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 24.01.2019, 02:53

Crent, Storent construction equipment rentals merge in Latvia

BC, Riga, 03.01.2018.Print version
Latvian company Storent Investments, the owner of Crent and Storent construction equipment rentals, has completed reorganization of the two companies resulting in liquidation of Crent, writes LETA, according to the information from the Latvian business register.

Crent, formerly known as Cramo, used to be the Latvian subsidiary of Finland's Cramo Group, but since August 2017 is fully owned by Storent Investments, which also owns Storent since 2015.


As a result of the reorganization, Storent took over all assets and liabilities of Crent. With the liquidation of Crent, all employees of Crent have been transferred to Storent.


The reorganization was recorded in the Commercial Register on December 29, 2017.


Founded in 2008, Storent closed 2016 with a loss of EUR 921,000 on a turnover of EUR 11.203 million.


Crent was founded in 2004. The company posted a loss of EUR 2.466 million on a turnover of EUR 5.633 million for 2016.


Storent Investments was founded in 2014. Its profit after taxes in 2016 was EUR 73,000, and the turnover was EUR 3.153 million.

Search site