Mar 19, 2008 11:30 AM

In the beginning of March 2008, Konecranes acquired the entire share capital of Spanish crane and service company Eydimen 2000 S.L., based in San Sebastian in Northern Spain. Prior to this transaction, Konecranes held 19.2 per cent of the share capital in Eydimen, which has been selling Konecranes-branded industrial cranes in Spain since 2005. The shares were acquired from the company's management, who will continue in the company. The value of the acquisition is not disclosed.

Spain is one of the largest crane and service markets in Europe. Acquiring the full ownership of Eydimen is in line with Konecranes' strategy of becoming a major crane and service company in all major markets. Eydimen is located in one of Spain's most important industrial hubs, and it markets its products and services throughout the country.

"Through full ownership of Eydimen we significantly increase our focus and ability to grow on the attractive market for cranes and crane service in Spain," says Pekka Päkkilä, President, Standard Lifting at Konecranes.

The company, which has 15 employees, will be named Konecranes Gruas S.L.  

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 8,400 employees, at more than 470 locations in 43 countries. Konecranes is listed on the OMX Nordic Exchange Helsinki (symbol: KCR1V).