Konecranes increases its ownership in Japanese joint venture MHS Konecranes to 100% Konecranes has today finalized the agreement to increase its ownership in MHS Konecranes to 100% by acquiring the remaining 35% stake from Meidensha Corporation. As part of the strategic alliance announced March 23, 2010, Konecranes and Kito signed a Memorandum of Understanding according to which Konecranes intends to sell the hoist distribution business of its Japanese joint venture MHS Konecranes to Kito. Prior to the final agreement, Konecranes' intention was to increase its ownership in MHS Konecranes to 100% by acquiring the remaining 35% stake from Meidensha Corporation. This ownership increase has now been finalized. Further information: Press Mikael Wegmüller, Vice President, Marketing & Communications E-mail: mikael.wegmuller@konecranes.com or phone +358 20 427 2008 Investors and Analysts: Miikka Kinnunen, Director, Investor Relations E-mail: miikka.kinnunen@konecranes.com or phone +358 20 427 2050 This press release is available on our website, www.konecranes.com. 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 2009, Group sales totaled EUR 1,671 million. The Group has 9,600 employees, at 545 locations in 43 countries. Konecranes is listed on NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
KONECRANES INCREASES ITS OWNERSHIP IN JAPANESE JOINT VENTURE MHS KONECRANES TO 100%
| Source: Konecranes Oyj