Konecranes has completed the acquisition of MHE-Demag

KONECRANES PLC  PRESS RELEASE  January 2, 2020 at 8:00 am EET

Konecranes has completed the acquisition of MHE-Demag

Konecranes has today completed the acquisition of Jebsen & Jessen’s 50% stake in MHE-Demag, as announced on December 5, 2019. The combined operations of Konecranes and MHE-Demag start on January 2, 2020.

With the acquisition, Konecranes increases its presence and market coverage in strategically important and fast-growing Southeast Asia. In addition, the acquisition allows Konecranes to target total annual synergies of approximately EUR 10 million at the EBITA level by 2022.
 

KONECRANES PLC

Eero Tuulos
Vice President, Investor Relations, tel. +358 20 427 2050

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2018, Group sales totaled EUR 3.16 billion. The Group has 16,200 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).
 

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