In October 2009, Konecranes expanded its machine tool service (MTS) business to the U.S. by acquiring the company Machine Tool Solutions Unlimited in Cincinnati, Ohio. Machine Tool Solutions Unlimited was founded in 2003 and provides a wide range of services to customers, including machine tool rebuilding, control retrofits, preventive maintenance, calibration and repair services. The annual net sales of the company in 2008 were approximately 3.5 MEUR (5.2M USD). The company has 18 employees. The value of the acquisition is not disclosed.
“We are pleased and excited to announce the addition of this strong regional company into the Konecranes family of global businesses,” says Tom Kurtz, General Manager, MTS, Konecranes Region Americas. “This is a technically challenging market with strong growth potential in the United States. Combining the extensive footprint of Konecranes with the skills and capabilities of Machine Tool Solutions Unlimited we are confident that our expanded service offering will be appealing to existing and new customers alike.”
Machine Tool Solutions Unlimited is Konecranes’ first MTS acquisition in the U.S. The previous owner and founder of the company, Mr. Harold Schoch, will continue in the newly acquired company. The acquisition of Machine Tool Solutions Unlimited is an opening for the strategic goal of building a MTS service network in the Americas. The company has a good amount of resources and customers, forming a base for further development.
Konecranes’ MTS business has until now been concentrated within the Nordic countries and the U.K. Through this recent acquisition Konecranes is able to expand its MTS offering to North, Central and South America.
Further information:
Media
Pekka Kujala, Director, MTS.
e-mail: [email protected] or phone: +358 20 427 4014
Investors and analysts
Sanna Päiväniemie, IR Manager
Email: [email protected] or phone +358 20 427 2050
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 as well as services for lifting equipment and machine tools of all makes. In 2008, Group sales totaled EUR 2,103 million. The Group has 9,700 employees, at 485 locations in 43 countries. Konecranes is listed on NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
