OREANDA-NEWS. August 25, 2016. Konecranes announced that it has received approval from the European Commission for its pending acquisition of Terex’s MHPS business (“MHPS Acquisition”). The approval is conditional on a commitment by Konecranes to divest its STAHL CraneSystems business. Furthermore, Konecranes stated that STAHL CraneSystems’ external sales totaled EUR 145 million in 2015 and the company has approximately 700 employees.

To facilitate the divestment process, Konecranes announces that STAHL CraneSystems’ pro forma EBITDA on a stand-alone basis would have totaled approximately EUR 30 million in 2015.

Konecranes will use the proceeds from the STAHL CraneSystems divestment to amortize loans related to the MHPS Acquisition.

The closing of the MHPS Acquisition is conditional to the European Commission’s approval of the buyer(s) of the STAHL CraneSystems business.

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc, tel. +358 (0)20 427 2050

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 2015, Group sales totaled EUR 2,126 million. The Group has 11,400 employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V).