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Diamond Steel Purchases Assets of Valley Crane
NORTH LIMA, Ohio -- Diamond Steel Construction Co. has expanded its fleet and customer base with the purchase of assets of Valley Crane Rental and Sales Inc., Niles, Dave Collins, president of Diamond Steel, announces.
"We've purchased two cranes, lifts and a couple of trucks," Collins says. "We've also been able to work off Valley Crane's customer base, so that increases our volume a bit."
Collins reports that Diamond purchased a 40-ton crane and an eight-ton crane. "We have 26 cranes now," he says
Valley Crane owner Fred Comparato was semi-retired, and his lone employee, Ken Bako, was also looking to retire, Collins said.
That presented an opportunity for Diamond to increase its holdings in the region, Collins said, noting that Comparato is working part-time as a consultant with Diamond.
"Fred is maintaining a relationship as a consultant for us," Collins says. "He has good connections, a good name, and a good relationship with his clientele."
Collins said the purchase excludes Valley Crane's real estate or building at 2104 Youngstown-Warren Road, Niles. Terms of the agreement were not disclosed.
Diamond Steel, founded in 1928, specializes in steel erection projects, maintenance in industrial plants, crane and industrial equipment rentals, and industrial hauling.
"We've been able to diversify," Collins said of Diamond Steel. "We've picked up some newer customers, and it's better than it was during this time last year."
Copyright 2013 The Business Journal, Youngstown, Ohio.
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