Konecranes strengthens its position in Denmark
Konecranes strengthens its position in Denmark
Konecranes recently acquired Danish port crane service company Aarhus Maskinfabrik A/S. The company has five employees and net sales of approximately MEUR 2. The seller was Hydraulico Holding A/S of the Hydraulico group, a manufacturer of hydraulic presses. The value of the acquisition is not disclosed. Aarhus Maskinfabrik A/S offers a wide range of services for modernization, service, repair and maintenance of port cranes. The company also offers spare parts and special crane products such as grabs, lifting devices for special purposes and electronic overload equipment. This acquisition supports Konecranes' strategy of expanding its network in important countries. After the acquisition Konecranes' local service organization in Denmark is able to expand their product offering to include service of port cranes. Up until now the local service organization has mainly focused on industrial cranes. In addition to the acquisition of Aarhus Maskinfabrik A/S, Konecranes earlier this year received two sizeable orders from the Danish market: delivery of two grab unloaders and a modernization project. “We are very pleased about this acquisition and the development of business activities in Denmark,” says Kari Åkman, Area Director, Nordic at Konecranes. “The good reputation of Aarhus Maskinfabrik and their large customer base are important for us. Through this acquisition we are able to serve our customers in the area even better.” The order for two new-generation AGD (Advanced Grab Drive) grab unloaders was received in March from the Danish energy company Dong Energy. The cranes will be delivered to Dong Energy's coal terminal at the Stignaes power plant in December 2009. The new grab unloaders are designed to unload Cape-class ships (up to 160,000 dwt) and will optimize the coal-handling capacity at the terminal. The modernization order was received from I/S Ensted Transithavn at the beginning of the year. The order includes modernization of a continuous ship unloader. The machine handles coal in the harbor of Ensted Power Station in Aabenraa. It was originally supplied by Konecranes in 1982 and has since then been in continuous operation. Under the contract, the continuous ship unloader will be overhauled and updated with modern control and drive technology. The modernization work will be carried out mainly during 2009. Further information: Press: Kari Åkman, Area Director, Nordic E-mail: kari.akman@konecranes.com or phone +358 20 427 4040 Analysts and Investors: Sanna Päiväniemi, Investor Relations Manager E-mail: sanna.paivaniemi@konecranes.com or phone +358 40 830 7071 This press release is available at our website www.konecranes.com About Konecranes 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 2007, Group sales totaled EUR 1,750 million. The Group has 9,350 employees, at more than 470 locations in 43 countries. Konecranes is listed on the OMX Nordic Exchange Helsinki (symbol: KCR1V).