LJ Crane & Rigging Announces GROVE GMK7550 on Order with Manitowoc Crane Group/Grove Worldwide

Business Wire, Feb 27, 2008

CRANSTON, R.I. -- The LJ Companies (LJ CRANE & RIGGING, LJ HEAVY HAULING, LJ SPECIALIZED LOGISTICS) www.ljcrane.com, headquartered in Rhode Island, is pleased to announce the expansion of its equipment fleet with the addition of a GROVE GMK7550 All Terrain Mobile Hydraulic Crane. The company continues on its growth track, and according to Vice President & Chief Operating Officer Paul Fioravanti, LJ is anticipating the delivery of a Grove GMK7550 from local Manitowoc/Grove/Potain dealer Shawmut Equipment of Manchester, Connecticut in the second half of 2008. "We worked extensively with the factory and David, Brian and Kevin O'Connell from Shawmut Equipment to develop specifications for this special order machine which would yield optimal productivity for our customers." Grove Worldwide's GMK7550 all-terrain crane will assist LJ is erecting and dismantling an ever growing arsenal of Potain tower cranes, ranging from the luffers such as the MR405B, MR605B and new MR615B cranes, and it's MD485 hammerhead cranes. LJ will be offering this expanded E&D (erection and dismantling) capability to its existing customers as well as other crane companies in need of a larger hydraulic mobile crane to dismantle tower cranes. According to VP & COO Paul Fioravanti, "Putting up towers is one thing, dismantling them is quite another...it's critical to have the right equipment, particularly when the tower crane is buried inside of the built structure."

He added, "With a lifting capacity of 550 tons and a maximum working radius of 300 ft., the new GMK7550 crane is the largest mobile crane in Grove's lineup. The maximum tip height of its five-section main boom is 207 ft. and approximately 410 ft. with an optional 240 ft. luffing jib installed. The GMK7550 all-terrain crane utilizes a 52.5 to 197 ft. five section, electronically controlled and hydraulically positioned, mechanically pinned, full power Grove Megaform boom. The Twinlock boom telescoping system allows for preselection of 32 different main boom extension configurations. A standard quick removal system allows fast removal of the entire boom assembly if necessary for transport, Grove said. Two double acting lift cylinders with safety valves provides boom angle from -3[degrees] to 82[degrees]. A new Grove electronic crane operating system (ECOS) is featured on the GMK7550. EGOS is a method of controlling crane functions by electronically monitoring and controlling the sensors, actuators and equipment that are connected to the system through a computer. Functions can be preprogrammed for sequence, speed and positioning, allowing easy crane control. Items like solenoid valves, switches, sensors, external alarms, warning lamps, control panels, displays and CAN bus circuits are continuously checked for circuit integrity, as well as operating conditions, and are used to allow troubleshooting through error indication.

According to Fioravanti, "We will be making our GMK7550 available throughout North America and we are particularly focused on large cities where tower cranes are used extensively, as well as bridge and highway work, HVAC, tall construction and power plant and energy infrastructure."

LJ has grown nearly 500% over the last three years, and has been listed on the Inc. 500 list of fastest growing companies in 2006 and 2007. In addition, LJ has been recognized by Providence Business News as one of the fastest growing Rhode Island-based companies two years in a row.