PARIS--(BUSINESS WIRE)--The Loxam Group takes note of Mr Tapio Kolunsarka's announcement to step down from his position of President and CEO of Ramirent. This decision was made in consultation with Loxam and is consistent with Ramirent's upcoming delisting from the Helsinki stock exchange. It was jointly agreed that Mr Kolunsarka will continue in his position until his successor is appointed in order to ensure a seamless transition. The Loxam Group thanks Mr Kolunsarka for his professional behaviour throughout the takeover process of Ramirent by Loxam, and wishes him success for the future.
The new CEO of Ramirent will be announced in due time. He will be in charge of the development of the Ramirent Group and will continue to rely on the experienced management teams and staff in each country.
The group’s priority remains the growth of its activities.
Loxam is the largest player in the European equipment rental market for the construction industry, public works, services and events sectors. Pro-forma of the acquisition of Ramirent, Loxam has approximately 11,000 employees and operates a network of over 1,000 branches in over 26 countries in Europe as well as in the Middle East, Brazil, Colombia and Morocco. Loxam had pro-forma revenue of EUR 2.3 billion in 2018. Loxam’s senior secured notes and senior subordinated notes are listed on the Official List of the Luxembourg Stock Exchange and traded on the Euro MTF market.