Konecranes has acquired the remaining 80.5 % of the share capital in crane and service company Dynamic Crane Systems Ltd. (DCS) in South Africa. In June 2007 Konecranes acquired 19.5 % of the company shares with a call option to acquire the remaining by December 31, 2009. DCS had annual net sales of approximately EUR 8 million in 2008 and 75 employees. DCS will be consolidated in Konecranes numbers as of October 2009.
DCS, a leading crane and service company in South Africa, was established in 1994. The company specializes in the manufacture, sales, servicing and assembly of industrial and process cranes. DCS and Konecranes have worked together since the early 1990s, and since June 2007 DCS has been Konecranes’ representative in South Africa and neighboring countries.
“South Africa is the economic powerhouse of Africa, leading the continent in industrial output and mineral production and generating a large proportion of Africa’s electricity,” says Pierre Boyer, President, EMEA region, Konecranes. “The country has abundant natural resources, well-developed energy and manufacturing sectors and a modern infrastructure supporting efficient distribution of goods throughout the southern African region. Not only is South Africa itself an important economy, it is also an excellent gateway to other African markets.”
DCS’ headquarters and manufacturing are in Alrode, close to Johannesburg and it runs a service office in the Durban, KwaZulu-Natal region. DCS serves many key industry areas in the Sub-Saharan region including mining, energy, steel, aluminum, paper and general manufacturing.
The company name will be changed to Konecranes (Pty) Ltd and the present owners will continue working for the company on a consultative basis.
Further information:
Press
Pierre Boyer, President, EMEA, Konecranes
E-mail: [email protected] or phone +358 20 427 3312
Financial Media and Analysts:
Mikael Wegmüller, Director, Marketing and Communications, Konecranes
E-mail: [email protected] or phone +358 20 427 2008
This press release is available at 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 and services for lifting equipment of every make. In 2008, Group sales totalled EUR 2,103 million. The Group has 9,700 employees, at 485 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki Ltd. (symbol: KCR1V).
www.konecranes.com
