Konecranes acquires ABB Schweiz AG’s crane systems business


In November 2011 Konecranes acquired ABB Schweiz AG’s crane systems business. The acquired entity, which is based in Baden-Dättwil, Switzerland, has 30 employees. The entity was originally established to serve ABB’s own crane systems and reached net sales of approximately EUR 6 million in 2010. The value of the acquisition is not disclosed. The acquisition is expected to have an immaterial impact on Konecranes’ results in 2011.

“ABB Schweiz AG’s crane systems business is a valuable addition to Konecranes,” says Demo Scordialo, Managing Director of Konecranes GmbH in Germany. “Our position in Switzerland is further strengthened by the company’s large customer base, the good connections to all industries and not least the experienced and highly qualified employees.”

ABB’s main business activities are concentrated on two key areas: energy and automation technology and it provides systems and all-in-one solutions for utility companies and industrial companies all around the world. ABB has approximately 130,000 employees globally, of which more than 6,000 in Switzerland.

Further information:
Press:
Aku Lehtinen, Senior Vice President and head of region WEMEA (West Europe, Middle East and Africa)
E-mail: aku.lehtinen@konecranes.com or phone +358 20 427 2665

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 2010, Group sales totaled EUR 1,546 million. The Group has 11,400 employees, at 578 locations in 46 countries. Konecranes is listed on NASDAQ OMX Helsinki (symbol: KCR1V).