A Big Growth Year for Cramo Latvia, the Company Says
Cramo Latvia had a strong year in 2024, growing to more than 2,000 units in its fleet, the company said.
“2024 was a year of positive momentum for Cramo Latvia,” said managing director Dmitrijs Sazonovs. “Our turnover reached €4.8 million, which is a 39-percent increase compared to 2023. This significantly outpaced general market growth, indicating a gain in market share. Key growth factors included the flexibility of our services, efficient logistics, and investment in equipment modernization. We are also seeing growing client demand for equipment with lower CO2 emissions and improved efficiency.”
Cramo Latvia expanded its equipment fleet including battery electric platforms, hybrid engine forklifts and a variety of zero-emission machinery.
“Our customers especially value fast delivery, reliable equipment and expert support,” said Sazonovs. “We’ve also improved service quality and are planning to expand with new rental depots to serve regional clients more efficiently. At present, we operate three rental depots in Riga.”
Cramo is part of Boels Rental, one of Europe’s leading equipment rental companies. In 2024, the Boels-Cramo Group introduced a unified environmental, social and governance standards system, which is now gradually being implemented in Latvia.
“The Latvian team is considered one of the most innovative units in the region, and we will continue to lead in the development of technology and services,” added Sazonovs.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.