Konecranes and SteelTeam sign steel service agreement Konecranes and the Finnish steel trading company SteelTeam Oy Ab have signed a long-term agreement on steel sourcing and value added services. Under this agreement, SteelTeam will provide consolidated steel sourcing and pre-manufacturing services for Konecranes' operations in northern Europe. The value of the agreement is not disclosed. SteelTeam's services, which include de-coiling, cutting, shot-blasting and painting, will be provided through a steel service cluster operated by the company. The steel service cluster consists of selected sub-contractors from the area and city of Uusikaupunki in Finland and will start operation on March 1, 2009. "By consolidating a major share of our steel purchases in Europe to SteelTeam, will we gain significant improvements in supplier base restructuring, internal operational efficiency, lead times and quality," says Pekka Lettijeff, CPO, Konecranes. "This agreement is a very important step in reaching SteelTeam's target to be a major flatsteel supplier in northern Europe and to become a key supplier to Konecranes," says Gustaf Kranck, Managing Director, SteelTeam Oy Ab. Further information: Press Pekka Lettijeff, CPO, Konecranes E-mail: pekka.lettijeff@konecranes.com or phone +358 40 841 2309 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 1752 million. The Group has 9,600 employees, at more than 470 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki Ltd (symbol: KCR1V).