Konecranes has signed an agreement to acquire the Ukrainian service company Craneservice Ukraine. The company has 140 employees and annual sales of over MEUR 5. The value of the acquisition is not disclosed.

Headquartered in Odessa, Craneservice Ukraine operates in the major ports of Ukraine, such as Mariupol, Iljichevsk and Odessa, in practice serving and modernizing all crane brands in the region. The company has a skill set both in mechanics and electronics, and has also entered the market of maintaining Electrical Overhead Traveling (EOT) cranes.

This acquisition is strategically important for Konecranes. An investment boom has started in Ukraine and in ports in the Black Sea region. The process and general manufacturing industries are growing. This means great potential for Konecranes' products and services.

“The acquired unit will strengthen Konecranes' position in Ukraine, especially in port crane maintenance,” says Seppo Hoppu, Director, East Europe. “Craneservice will also serve as a base for skilled technicians and will form a strong support unit for Konecranes' activities in Russian speaking areas.”

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