- The growing network is comprised of US steel structure providers and subcontractors to satisfy domestic manufacturing criteria including “Build America Buy America” (BABA)
- Konecranes is now able to manufacture a full range of domestic manufacturing-compliant port cranes in the US including ship-to-shore (STS) cranes
- Konecranes has received initial indications of interest from several customers for US-manufactured port cranes including STS cranes
Konecranes is establishing a network of partners including steel structure providers and subcontractors to build port cranes in the United States in the coming years. This long-term plan was started as part of a series of initiatives from the US government, which recognizes Konecranes’ position as a global leader in material handling solutions with deep roots in the country.
Konecranes expects the network to grow in states including Ohio, Virginia and Wisconsin in the coming years, and has received initial indications of interest from a number of customers for BABA cranes including STS cranes. Given that STS cranes take several years to produce and deliver, the company does not see any short-term impact on its financials from this initiative.
Konecranes also has the capability to modernize existing port cranes with the latest technology and cybersecurity standards, part of its continuing drive to improve the safety, productivity and sustainability of its customers’ operations.
Konecranes has operated in the US for decades, and has three crane manufacturing facilities, approximately 2,200 employees and over 60 branches across the country. Customers include privately-run ports, intermodal operators and port authorities, as well as multiple industries needing smart, safe and reliable material handling solutions. Konecranes is committed to growing its workforce in the US in step with increasing business volumes.
Please see today’s announcement from the White House here.
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 press release is available on our website www.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 2023, Group sales totalled EUR 4.0 billion. Konecranes shares are listed on Nasdaq Helsinki (symbol: KCR).
