KCI KONECRANES HAS COMPLETED JAPANESE JOINT VENTURE AGREEMENT
On 6 November 2002 KCI Konecranes entered into an agreement with
Meidensha Corporation of Japan (part of the Sumitomo Sphere) to become
joint venture partners in Japan. The final closing of the Joint
Venture has been approved on 25 April 2003.
KCI Konecranes owns 49% of the Joint Ventures shares, Meiden Hoist
System Company Ltd (MHS), with an option to increase its holding to
65% before 31 March 2008.
Since November 2002 the Joint Venture has been implementing an agreed
business plan. MHS strategy is to apply KCI Konecranes CXT
technology in its hoist manufacturing. MHS has now received a
manufacturing license for this technology and approval from the safety
authorities in Japan. The technology has further been adjusted to meet
with local industry standards and technical specifications. The new
hoists will be marketed in Japan under the brand name MXT.
The new hoist was introduced to the Japanese market on 1 April 2003.
Launching exhibitions have been organised in seven major cities all
around the country. The first orders have been booked and strong sales
"This is indeed an important milestone for KCI Konecranes in Japan.
Japan is one of the worlds largest markets for electric wire rope
hoists and represents a substantial potential for KCI Konecranes.
Although the Japanese market is currently at a low level, we are
surprised to see how strong it still is and happy about the first
market responses to the MXT hoistö, says Mr Arto Juosila, KCI
Konecranes Group Vice President, Region Asia-Pacific.
MHS headquarters and manufacturing plant are located in Nagoya.
KCI Konecranes, headquartered in Hyvinkää, Finland is a world leading
Engineering Group specialising in advanced overhead lifting solutions
and maintenance services. The Group has annual sales of approximately
EUR 714 million with 4400 employees in 34 countries all over the
KCI KONECRANES PLC
KCI Konecranes Plc
Rainer Aalto, Director, Business Development
Tel. +358-20 427 2002
Arto Juosila, Group Vice President, Region Asia-Pacific
Tel. + 81 9051137831