Konecranes Launches RENTALL as an Alternative to Buying a Crane

2/19/2018, 1:00 PM (Source: GlobeNewswire)

SPRINGFIELD, Ohio, Feb. 19, 2018 (GLOBE NEWSWIRE) -- In an innovative new program designed to give customers maximum flexibility, Konecranes now offers premium lower-capacity overhead cranes up to 10 tonnes for rent. The deal includes a service package that takes care of maintenance and spare parts, giving the customer use of a top quality crane without a large capital investment.

Konecranes RENTALL
Konecranes innovative RENTALL program offers premium lower-capacity industrial cranes up to 10 tonnes for rent.

Konecranes RENTALL concept is rolling out in the United States and Canada based on a successful launch of the program by the global crane manufacturer in the Nordic countries, the UK, Singapore and Australia.

“The advantages of renting, rather than buying a crane closely parallel the advantages of leasing a car,” says Tim Briand, senior director of Konecranes Eastern Canada industrial cranes division. “The customer gets a brand new, technically advanced piece of equipment without making a large investment up front. At the end of RENTALL, the customer can walk away, and Konecranes will come out and uninstall the crane at no charge. Or, he can take advantage of a prearranged buyout that is negotiated at the time RENTALL is signed, and purchase the crane at a very reasonable price.”

Customers can choose to rent a crane of up to 10 tonnes of capacity from the Konecranes industrial crane range. Only site-related items, transportation, installation, commissioning and initial inspection are paid up-front. Then, customers pay a fixed monthly fee for the contract period.

RENTALL also allows customers to tailor the crane to suit their needs, and many of Konecranes safety features, such as Sway Control or Adaptive Speed Range, are available as options. So even though the equipment is rented, it is not necessarily basic. Customers can choose the features that are most advantageous for them, and amortize the cost over the life of RENTALL.

RENTALL terms range from three to five years. During RENTALL, Konecranes is responsible for annual inspections, spare parts, and a warranty supported by 24/7 on-call service from the world’s largest crane service network.

“Konecranes pays for all consumable parts and maintenance during the RENTALL period, unless the problem stems from damage by operator abuse,” says Briand. “Fortunately, our TRUCONNECT® Remote Monitoring system is also part of the package, which tracks crane usage, motor starts, work cycles and emergency stops, providing visibility to crane usage. Having this technology on the crane is a win-win scenario, because our equipment is protected while enhancing safety and productivity for the customer’s operation.”

Bottom line, RENTALL customers can get the equipment they need with the ability to pay for it over time. The rental fee becomes a regular monthly operating expense, rather than a capital investment.

“For some companies, there are advantages to renting, rather than purchasing a crane. Each situation is different, so it’s worth the time to do a financial analysis comparing the two scenarios to maximize return on investment,” says Briand.

Additional information:
Amulya Raghuveer, Communications Coordinator,
Konecranes Region Americas
amulya.raghuveer@konecranes.com or 937.525.5533.

About Konecranes, Inc.
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. The Group has 18,000 employees at 600 locations in 50 countries. Konecranes class A shares are listed on the Nasdaq Helsinki (HEX:KCR).

This press release is available at www.konecranesUSA.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fcaf2b30-0fee-44c4-91ba-23745072f564

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