Aberdeen business secures investment from Austrian chain maker company

L-R Kirk Anderson, managing director, and Millar Kennedy, sales director, of Load Monitoring Systems.

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ABERDEEN-based Load Monitoring Systems Ltd (LMS) has received investment from Austrian chain maker Pewag Group.

The deal gives Klagenfurt-headquartered Pewag Group a stake in LMS.

LMS have refused to give any details on the sum invested.

A statement said the strategic partnership would enhance their product lines and service offerings.

Kirk Anderson, LMS managing director, said: “We are delighted with the new partnership and the investment will allow us to expand the support we currently provide our customers.

“The combined knowledge and experience will produce innovative world-class lifting systems for diverse global markets.”

Agyd Pengg, Pewag owner and managing director, said: “We were impressed by the innovative product range and highly dedicated team at LMS.

“With this strategic partnership and new investment, we expect to come closer to our end-customers, becoming a full-service provider for the global rigging and lifting industry.

“We are excited about this new partnership and are convinced that the addition of LMS’s product range to our portfolio is the right step into a digital product future providing real-time information and greater value to our customers.”

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