Correction to Reuters News

Reuters news agency published a brief interview on 10 October, which included details regarding Konecranes operations in China that are in need of some clarification.

Konecranes' sales in the Asia-Pacific region represented 13 percent of Konecranes 2006 sales. China represented roughly one-third of sales in Asia-Pacific, and clearly less than 10 percent of group sales in 2006. Reuters' headline:  Asia to make up 50-55 pct of Konecranes global sales in 3-4 yr, vs current 30 pct is therefore incorrect.

As the Chinese market for Konecranes products and services is anticipated to grow faster than the global market in the long term, Konecranes expects its sales development to follow this trend. Konecranes target is that its 2007 and future sales growth in China would be faster than the Group's global sales growth.

Konecranes started up production in its fourth plant in China in April 2007. The company has no current plans to open additional plants in China, contrary to the Reuters news.

Konecranes strategy includes an active acquisition policy. The Group is therefore continuously studying acquisition and joint venture opportunities in several parts of the world, including companies in China.    

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 2006, Group sales totaled EUR 1483 million. The Group has 8000 employees, at more than 370 locations in 41 countries. Konecranes is listed on the OMX Helsinki Stock Exchange (symbol: KCR1V).

www.konecranes.com