History

Konecranes' history dates back to 1910 when the electrical motor repair shop KONE Corporation was founded. Konecranes has grown over the years mainly organically but has a strong acquisition track record as well.

Konecranes history
1933KONE Corporation started to build sizeable Electric Overhead Traveling Cranes. The main customers were at first mainly from the pulp and paper and power industry.
1936The company started to manufacture Electric Wire Rope Hoists. Harbor cranes were added to the product range in 1947.
1950'sThe harbor cranes business line experienced strong growth in the post-war economy.
1962KCI Konecranes signed the first Preventive Maintenance Contract with one of its customers.
1973The company began to expand internationally and makes a first acquisition in Norway (Wisbech-Refsum). In 1983 the company establishes its first foothold in the U.S. (R&M Materials Handling) in Ohio, Springfield. In 1986 Konecranes acquires a company in France (Verlinde) headquartered in Vernouillet. (A detailed M&A History is available under Investor information)
1988In 1988 crane operations were organized into the KONE Cranes Division of KONE Corporation. From 1990 onwards the company has kept a high focus on establishing technical leadership.
1991The company established its own offices in the UK by acquiring the company Lloyds British Testing with operations in the UK and Australia. A large restructuring program was launched which carried on until 1994. Among other actions, crane production facilities were cut from 19 to 4.
1994KCI Konecranes was formed on April 15, 1994, when KONE Corporation, a Finland-based group was listed on the Helsinki Stock exchange, as part of structural changes which involved disposing of all its operations, excluding its elevator business, sold the operations of its crane division.
1996In 1996 KCI Konecranes was listed on the Helsinki Stock Exchange. KCI Konecranes is an internationally broadly held company.
1997In 1997 KCI Konecranes made its first acquisition in Germany when MAN SWF Krantechnik, was acquired. KCI Konecranes has experienced high organic growth in Germany and continued with several bolt-on acquisitions in year 2000.
2002In 2002 KCI Konecranes was the first foreign crane company in China to receive a complete range of business licensees including import and export. The same year we succeeded in creating a bridgehead in Japan by establishing a joint venture agreement with Meidensha Corporation.
2004Reach stackers and Lift trucks added to the product range through the acquisition of SMV Lifttrucks AB of Markaryd, Sweden.
2005KCI Konecranes' acquisition of R.STAHL AG's material handling division, R.Stahl Fördertechnik of Germany, brings together some of the crane industry's strongest brands and most innovative technologies. Stahl is a significant player in the field of specialized lifting applications.
2006KCI Konecranes acquired MMH Holdings, Inc and expanded its product range. The acquisition also brought new opportunities for growth in Maintenance Services through the large installed base of MMH cranes.
2006KCI Konecranes launched a new refocused and unified global master brand strategy and identity, and drops the KCI from the brand name. At the same time the slogan Lifting Businesses TM, emphasizing productivity enhancing lifting solutions and services, was launched.
2007The straddle carrier was added to Konecranes’ product range through the acquisition of all products rights from German straddle carrier manufacturer Consens Transport Systeme GmbH and starts straddle carrier manufacturing
2007Konecranes strengthens its position in the machine tool service (MTS) business by acquiring MTS companies Kongsberg Automation AS in Norway and Reftele Maskinservice AB in Sweden.
2008Konecranes increased its share holding in Meiden Hoist System Company Ltd (MHS) in Japan from 49 to 65 percent. By increasing its shareholding in MHS, Konecranes targeted to increase its presence in the large Japanese hoist market.
2008Konecranes expanded its activities in Spain through the acquisition of Spanish crane, hoist and service companies Eydimen 2000 S.L. and Ausió Sistemas de Elevación S.L.
2008The machine tool service business was further expanded through acquisitions in Scandinavia and in the UK.
2009Konecranes moved into a new business segment by making two acquisitions for load-handling solutions with aluminum rail systems and manipulators.
2009Konecranes introduced an industry shaping industrial crane, SMARTON®, which can reduce power consumption and energy cost by up to one third.
2009Konecranes acquired 65% of Sanma Crane manufacture Co. Ltd., one of the leading hoist and crane manufacturers in China.
2010Konecranes announced six acquisitions related to Machine Tool Service (MTS) in Denmark, in the UK and in the USA.
2010Konecranes and Kito Corporation (Japan) entered into a strategic alliance. Konecranes owned 24.4% of the share capital and voting rights in Kito.
2010Konecranes’ new RFID based NearGuard System for heavy lift trucks and reach stackers won the IMHX Design 4 Safety award in the UK.
2010The world’s most compact polar crane and cask transporter for spent fuel were developed by Konecranes for nuclear power plants.
2011Konecranes acquired 100% of the shares in WMI Cranes Ltd. (WMI). The acquisitions marked an important step in strengthening Konecranes’ position in Indian market.
2011Konecranes launched a new highly ergonomic cabin for port cranes and industrial process cranes.
2011Konecranes launched the first products under TRUCONNECT® remote services.
2011Konecranes acquired 100% of the Saudi Arabian crane manufacturer Saudi Cranes & Steel Works Factory Company Limited (“Saudi Cranes”).
2012Konecranes introduced a new-generation CLX chain hoist that speeds up the work cycle and maintenance, improves safety and energy efficiency.
2012Konecranes opened a new Reliability Center in Jingjiang, China.
2012Konecranes has completed a full range of power options for RTGs, which includes Hybrid Power Pack, Diesel Fuel Saver, Cable Reel and Busbar.
2012The Smarter Cabin by Konecranes won Fennia Prize 2012. It is used in our EOT cranes, RTGs, RMGs, Straddle Carriers, and BOXRUNNERs.