The Annual General Meeting of Konecranes Plc is held today, Thursday 12 March 2009 starting at 11 am Finnish time in Hyvinkää, Finland. In his presentation, Mr Pekka Lundmark, President and CEO, repeats the comment on the sudden drop in demand in November and evaluates the demand development in the near future:
Unfortunately the situation has not become any easier during the first two and a half months of the year and no improvement is currently visible. We have earlier estimated that the new equipment market will decrease clearly in the developed countries and to a lesser extend in the emerging markets, and this development seems to be realizing. The market for services is more stable than the new equipment market but it seems to be suffering from this situation as well, at least in the short term. There are quite a few projects in a planning phase globally, for instance in the energy sector, and our offers are on an acceptable level, too. But customers are hesitant and postpone their decisions. Thus, the short term outlook for new orders is unsatisfactory.
The presentation material will also be available on the company website at www.konecranes.com after the closing of the AGM.
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 9,900 employees at 485 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki Ltd (symbol: KCR1V).
FURTHER INFORMATION
Sanna Päiväniemi, IR Manager, tel. +358 (0)20 427 2050
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Media
www.konecranes.com
FURTHER INFORMATION
Sanna Päiväniemi, IR Manager, tel. +358 (0)20 427 2050
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Media
www.konecranes.com
