Konecranes has signed an agreement to exercise its option to raise its holding in the joint venture company Meiden Hoist System Company, Ltd. (MHS) of
Konecranes and Meidensha Corporation (Meiden), a Japanese company, entered into a joint venture agreement concerning the hoist business in
Meiden earlier held 51 % and Konecranes 49 % of the shares in the joint venture company MHS. Konecranes has signed an agreement to exercise the call option to acquire an additional 16 percent interest in MHS.
MHS has been marketing the MXT branded hoist in
The transaction is subject to regulatory approval.
Meidensha Corporation, headquartered in
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 Helsinki Stock Exchange (symbol: KCR1V).
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