Konecranes Plc - Strategic alliance with Kito Corporation to be dissolved, Konecranes to tender all its Kito shares to Kito
Konecranes and Kito Corporation (“Kito”) have decided to dissolve the strategic alliance signed on March 23, 2010, between the companies. While the alliance has been successful in certain areas, the parties have agreed that it is in the companies’ interest to pursue their respective strategies independently. The non-exclusive cross-distribution arrangements between the companies remain valid. Konecranes will continue to sell Kito manual products (chain hoists and lever hoists) using the Konecranes brands, whereas Kito will continue to sell wire rope hoists made by Konecranes under its