Crane group getting ready for heavy lifting

The Crane Group of Cos was set up by Thongchai Praerangsi in 1990 to provide rental services of cranes, forklifts and other construction machinery for lifting, assembling and installing large and heavy objects as well as machinery sales under The Crane Services Co Ltd (TCS). As the industry continued to expand, Mr Thongchai set up The Crane Laem Chabang Co Ltd (TCL), The Crane Rayong Co Ltd (TCR) and The Crane Heavy Lift Co Ltd (TCH). In 1997, He set up Chu Kai Co Ltd to import used cranes and parts for sale and provide repair services. The group was restructured in 2004, when Crane held a 99.99% stake each in TCL, TCR and TCH. It also bought 99.99% of shares in TCS in 2006. Since the restructuring, Crane mainly sells equipment and provides repair services for cranes, while its subsidiaries only provide rental services. Chamnan Ngampojanavong, chief financial officer of Chu Kai Plc, discusses the company’s strategy and outlook.

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