The crane company Crane Group has made a $30 million profit from a $2 billion deal that saw it buy Grey Crown in a bid to increase its presence in the New York metropolitan area.
The deal has led to the expansion of the company’s crane operations, which are now based in New Jersey.
In a statement Crane said it expects to generate an additional $2.2 million in profit from its crane business and expand its crane production facilities in New York and Connecticut.
Grey Crown, which manufactures the crane in New Zealand, operates in China, Canada, the United Kingdom, Japan and South Korea.
The company said it intends to open a new factory in Canada in 2019.
“We are pleased to be bringing more jobs and opportunities to New York City, and we look forward to building on this momentum and expanding our operations to bring Crane Group’s crane capabilities to New Yorkers in the future,” Crane chairman and CEO Richard Kogan said in a statement.
Crane also plans to expand its operations in New England, the Midwest and the South, according to the statement.