KONECRANES PLC - THE BOARD HAS CONTINUED CONFIDENCE IN STIG GUSTAVSON

Konecranes Plc has with its stock exchange release on March 18, 2016, announced that it has become aware that charges for aggravated subsidy fraud have been pressed against its chairman of the board Stig Gustavson in the so called business park matter concerning Industry Park East Management Oy.  Konecranes is not a party in the matter.
 
The Board of Directors of Konecranes and its Nomination and Compensation Committee have now acquainted themselves with the matter and not found anything, which would give reason to question Stig Gustavson's suitability and ability to act as the Chairman of the Board of Directors.
 
Hence, the matter does not affect the proposal of the Nomination and Compensation Committee to the General Meeting to re-elect the Board.
 
The Board has full confidence in Stig Gustavson as its chairman.

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

FURTHER INFORMATION
Mr. Ole Johansson, vice-chairman of the board, Konecranes Plc, call-back requests tel. +358 40 195 5511

DISTRIBUTION
Nasdaq Helsinki
Media
www.konecranes.com

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 and machine tools of all makes. In 2015, Group sales totaled EUR 2,126 million. The Group has 11,900 employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V).