Midwestern Companies Report Uptick
Written by Hal Lundgren 12 Mar 2012
Excerpt of Article
Imperial Crane has nore than speculated on the rebound. Though the company declines specifics, Imperial has apparently invested $15-$20 million in new cranes.
The (crane) market was so soft, nothing was really happening, says Bill Tierney, Imperial’s Vice President and CEO. “Things started to normalize in 2011. It was to our advantage to act.”
So Imperial acted. The company purchased a new, 600-ton Leibherr, five new Tadano rough terrains and a variety of ten rough terrains an crawlers from Sany.
For a long time, everybody in the crane business was pulling back, Tierney adds. “There was lack of work, unavailability of credit and uncertainty about when we might start moving forward. When we saw some positive changes in 2011, we believed it was the right time to purchase new equipment.”
Imperial’s new crane purchases will be delivered throughout 2012.
“As a larger company, we had the benefit of available credit,” he says. “Most smaller companies don’t have that advantage.” Asked if Imperial plans to target more services to existing customers or reach out to new areas, Tierney says, “Both, but with our new cranes, the tendency will be to expand geographically.
“We’ll be serving other parts of the country. We want to be prepared for 2013 and 2014. We believe both will be strong years for the crane business.”