KONECRANES PRESIDENT & CEO PEKKA LUNDMARK TO RELOCATE TO SINGAPORE FOR ONE YEAR

KONECRANES PLC  STOCK EXCHANGE RELEASE  April 25, 2012 at 10:00

Konecranes President & CEO Pekka Lundmark will relocate to Singapore in August for approximately one year to support the development of Konecranes’ operations in emerging markets. Lundmark’s temporary relocation does not lead to any changes in Group’s operational structure, including the group headquarter functions in Hyvinkää, Finland, or Asia-Pacific headquarter functions in Shanghai, China.
 
“A continuously growing share of the growth in world’s industrial production and logistics investments takes place in emerging markets in general, and in Asia in particular. A strong senior management attention to the requirements presented by these customers is vital to success in our business. My main objective with the relocation is to build a personal contact network among customers and other decision makers in Asia, and better understand their thinking, plans and needs," Pekka Lundmark says.
 
Asia-Pacific region accounted for 21 percent of Konecranes’ net sales in 2011 and its relative share has tripled during the latest ten years. Konecranes employs approximately 3,000 persons in the region, which is about 26 percent of the Group’s total personnel. In China and India, Konecranes operates altogether seven plants, including joint ventures, manufacturing hoists, industrial cranes, lift trucks, and port cranes. Emerging markets in total generate about one-third of Konecranes’ net sales and as much as a half of Business Area Equipment’s revenues.

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

FUTHER INFORMATION
Mikael Wegmüller, Vice President, Marketing and Communications, tel. +358 20 427 2008
Miikka Kinnunen, Director, Investor Relations, tel. +358 (0)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 and machine tools of all makes. In 2011, Group sales totaled EUR 1,896 million. The Group has 11,700 employees at 609 locations in 47 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).

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