Modernize or Replace? Upgrading Your Crane

Share Us On:

Proper efficiency planning is vital for companies if they are to remain competitive in local and global markets. It is an ongoing process, usually done as often as the Operations team deems necessary. Planning extends to the financials, equipment and to any areas that keep the industry running its best.

Modernize or Replace? Upgrading Your Crane

Reliable Equipment

Equipment is the lifeblood of manufacturing and industrial businesses. Amongst the major equipment that is needed is a durable crane. It is not uncommon for crane equipment to be pushed beyond its normal working capacity. Normal is generally considered 25 years of working condition when bought new.

Anything beyond those operational years needs to be re-evaluated. Either your crane equipment needs to be replaced or it needs modernization.

Correcting a poor performing crane helps make your operations run smoother and protects the safety and security of your workers. Therefore, once it has reached 25 years to a maximum of 30 years operating capacity, it’s time for a new crane.

Rely on a trusted professional service company like Truck Loan Center to evaluate your crane. We will determine its current load bearing capacity and whether it is stable enough to consider modernization.

If your crane equipment is beyond repair, then buying a crane with modern upgrades may be your better alternative. This is particularly important when you consider that newer equipment will meet safety and efficiency standards.

Striving to achieve these required standards can be expensive. However, many companies have eased their financial tension with crane loans.

Reports of recent ​industrial equipment expenditure​ shows it exceeding $1 trillion, with a steady increase in credit approvals. In 2008, the Canadian construction market experienced a sharp decline and cranes were not in as high demand. That changed in 2015 when the demand for ​cranes began to increase again​.

This is a wise investment when you consider outdated equipment can have a huge effect on your company’s business model. The implied risks to a company’s stellar reputation is usually enough for them to acquire crane loans.

To learn more, call Truck Loan Center today at ​1-877-733-9672​​or contact us ​here​.


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts