Enabled by a flexible financing arrangement from Siemens Financial Services (SFS), Baldwins Crane Hire (Baldwins) has acquired a high quality Liebherr LTM1500-8.1 mobile crane.

The seven year finance lease of approximately £2.6m takes into account a significant residual value of the asset at the end of the financing period. Baldwins already operates two of these mobile cranes and this latest acquisition allows them to expand and update their fleet, taking on more work around the country in the burgeoning heavy lift sector.

The eight-axle all-terrain mobile crane is equipped with a 7-section, 84m telescopic boom and has a maximum lifting capacity of 500 tonnes. The lattice jib, reaching lengths of up to 91m, extends the operating range of the 500 tonner to 142m hoisting height and 108m reach. The wide application of the mobile crane ranges from lifting bridges into position, through industrial plant installations and refurbishment of oil refineries or power stations, to lifting large boats out of water, as well as a range of large civil engineering projects.

Richard Baldwin of Baldwins commented, “With the financial support of SFS, we are able to grow our crane fleet’s profile in order to meet the diverse needs of our customers as well as to expand our business. We are more than pleased with the competitive funding, excellent services and the efficiency of the account team at SFS.”

Brian Foster, head of industry at SFS, commented, “Because of our industry experience and our in-depth understanding of the market, we are able to accurately evaluate the quality of the financed asset, in particular in large transactions, thereby providing customers with a competitive financing package that not only enables their investment, but also optimises their cash flow. We have already supported Baldwins on the acquisition of mobile cranes in the past and are delighted to further our cooperation.”

In July, Baldwins also concluded another finance lease deal with SFS for the acquisition of three Nooteboom trailers costing £340,000.