NMF designs, develops and manufactures the cranes with a workforce of 130 employees in Hamburg.
Stronger market position
NMF is the market leader for heavy-lift cranes (larger than 150 tons) with more than 60% market share. NMF is also supplier of offshore heavy-lift cranes for the windmill industry. These are new market segments for TTS says Johannes D. Neteland, President & CEO in TTS Group ASA.
NMF was established in 1970 and well known as a quality supplier. As a part of TTS the utilizing of TTS infrastructure and network gives opportunity for a wider market. In combination with considerable synergies this will give us profitable growth says Johannes D. Neteland.
Growth in Germany
The existing turnover for TTS in Germany is in the range of 750 MNOK (100 MEUR).
We are already a significant player in the ships equipment industry in Germany, Neteland stated, and with NMF on board we would strengthen our position further.
We appreciate to be a part of TTS as an industrial owner with a strong position in Germany says Ralf Ressel, Managing Director/CEO in NMF. Together we will manage to get 1 + 1 to be more than 2.
Synergies
The synergies between TTS and NMF are considerable, especially within sales & marketing and service tells Vollrath Schuster, President in TTS Marine GmbH.
NMF’s product range is complementary to TTS activity in Germany. Increased volume will benefit our operation by utilizing the whole TTS organization and network. Together, Services will near double in volume, an important focus area for increased earning, says Vollrath Schuster.