Konecranes has acquired the industrial crane service operations of Norway’s Munck Cranes AS, giving it access to new customers and a large installed base of Munck’s industrial cranes in Norway and beyond.
Munck Cranes AS is a well-recognized industrial crane and crane service provider in Norway with international component export operations. For almost 100 years, Munck Cranes has served a variety of customers including pulp and paper factories, steel mills, metal service centers and hydro-electric power plants. Munck Cranes AS entered into bankruptcy proceedings in late May and Konecranes recently acquired the industrial crane service operations from the bankruptcy estate.
In recent years, the annual net sales of the acquired crane service business have totaled approximately EUR 8-10 million and the industrial crane service business has been clearly profitable. This acquisition gives Konecranes access to a large installed base of Munck’s industrial cranes, and access to new customers and growth opportunities for its Industrial Service and Equipment business area. The business acquired has been run by some 40 employees throughout Norway, operating in four regional teams.
“We welcome our Munck Cranes colleagues to Konecranes and look forward to working together to develop and expand operations in the Nordic region and beyond,” said Tomas Myntti, SVP EMEA for Industrial Service and Equipment at Konecranes.
Further information:
Konecranes Media Desk
[email protected]
Further information for investors and analysts:
Kiira Fröberg, Vice President, Investor Relations, Konecranes
Email: [email protected] or phone: +358 20 427 2050
This release can be found on Konecranes.com.
Konecranes is a global leader in material handling solutions, serving a broad range of customers across multiple industries. We consistently set the industry benchmark from everyday improvements to the breakthroughs at moments that matter most, because we know we can always find a safer, more productive and sustainable way. That’s why, with around 16,600 professionals in over 50 countries, Konecranes is trusted every day to lift, handle and move what the world needs. In 2022, Group sales totaled EUR 3.4 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).
