Konecranes and NIB have signed a EUR 50 million loan agreement to finance the R&D activities in 2014–2017. The seven-year-maturity loan to Konecranes’ R&D program will assist the company in focusing on new business opportunities in two important areas: Industrial Internet and next generation mid-market products.

Since 2009 Konecranes has increased its R&D-related expenditures by 16 percent. The R&D costs in 2013 amounted EUR 25.6 million, which represented 1.2 percent of the company’s net sales.

Konecranes’ Industrial Internet initiative makes machines intelligent and aware of their condition, and networks them to create real-time visibility for enhanced safety and productivity. The TRUCONNECT offering includes a variety of distinct remote services ranging from periodic data reporting to real-time diagnostics, technical support and production monitoring. More features and functionalities will be added to the offering in the future.

Another part of Konecranes’ R&D program focuses on lifting equipment offering. Customers in emerging countries have certain needs that differ from those in developed economies. However, customers in both markets are looking for safe and productivity-enhancing solutions. By combining smart automation and control systems with innovative mechanical solutions, it is possible to create next generation, modular products, which serve both markets while bringing necessary scalability and cost efficiency in production. 

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 2013, Group sales totaled EUR 2,100 million. The Group has 11,800 employees at 600 locations in 48 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).