Konecranes will close its assembly plant in Windsor, WI, USA by the end of October 2010. Konecranes expects to book largely lease-related restructuring costs of EUR 3 million due to the factory closure in the second quarter of 2010.
Low equipment demand in the developed markets as stated in the first quarter 2010 interim report, closer integration of Morris Material Handing Inc’s (P&H) activities into Konecranes’ operations and widening usage of corporate-wide products have reduced production volumes at the Windsor plant in 2010. A plan has been prepared to cease operations at the Windsor factory and to relocate the remaining activities to the other Konecranes locations in the US.
The personnel in Windsor is 47 of which 27 will be offered jobs in the other locations leading to a reduction of 20 positions.
KONECRANES PLC
Miikka Kinnunen
Director, Investor Relations
FURTHER INFORMATION
Press:
Mikael Wegmüller, Vice President, Marketing & Communications
E-mail: [email protected] or phone +358 20 427 2008
Investors and Analysts:
Miikka Kinnunen, Director, Investor Relations
E-mail: [email protected] or phone +358 20 427 2050
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Media
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 2009, Group sales totalled EUR 1,671 million. The Group has 9,600 employees, at more than 545 locations in 43 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).
