Statutory negotiations completed within Konecranes in Finland

In a stock exchange release dated January 3, 2013 Konecranes announced restructuring actions in Business Area Equipment and that the company as a result of these will start statutory negotiations regarding possible personnel reductions within Konecranes Business Area Equipment in Finland. The statutory negotiations have now ended and according to the results 20 employees will be permanently laid off within Konecranes Finland Oy. Furthermore, the contracts of 9 temporarily employed persons will be terminated when they are due. Also the number of rental workers will be reduced. In addition to these activities, there might be temporary layoffs affecting 350 employees, should the market demand and factory capacity not meet.

As a result of new equipment demand moving towards emerging markets, Konecranes Business Area Equipment initiated actions to align operations closer to customers. In doing so, Konecranes Business Unit Industrial Cranes is organizing itself globally into larger sales areas with stronger units. As a result, industrial crane manufacturing will be discontinued in Hyvinkää, Finland. Hyvinkää will remain the main location for component manufacturing for heavy-duty industrial cranes and port cranes.

In Finland Konecranes employs approximately 2,000 people of which approximately 1,200 are located in Hyvinkää.
 

Additional information:
Press
Mikael Wegmüller, Vice President, Marketing & Communications
Email: mikael.wegmüller@konecranes.com, or tel. +358 20 427 2008

Investors and analysts:
Miikka Kinnunen, Director, investor relations
Email: miikka.kinnunen@konecranes.com, or tel. +358 20 427 2050

 

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 2012, Group sales totaled EUR 2,170 million. The Group has 12,100 employees, at 626 locations in 48 countries. Konecranes is listed on NASDAQ OMX Helsinki (symbol: KCR1V).