KCI Konecranes has completed Japanese Joint Venture agreement

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On 6 November 2002 KCI Konecranes entered into an agreement with Meidensha Corporation of Japan (part of the Sumitomo Sphere) to become joint venture partners in Japan. The final closing of the Joint Venture has been approved on 25 April 2003.

KCI Konecranes owns 49% of the Joint Venture’s shares, Meiden Hoist System Company Ltd (MHS), with an option to increase its holding to 65% before 31 March 2008.

Since November 2002 the Joint Venture has been implementing an agreed business plan. MHS’ strategy is to apply KCI Konecranes’ CXT technology in its hoist manufacturing. MHS has now received a manufacturing license for this technology and approval from the safety authorities in Japan. The technology has further been adjusted to meet with local industry standards and technical specifications. The new hoists will be marketed in Japan under the brand name MXT.

The new hoist was introduced to the Japanese market on 1 April 2003. Launching exhibitions have been organised in seven major cities all around the country. The first orders have been booked and strong sales efforts continue.

"This is indeed an important milestone for KCI Konecranes in Japan. Japan is one of the world’s largest markets for electric wire rope hoists and represents a substantial potential for KCI Konecranes. Although the Japanese market is currently at a low level, we are surprised to see how strong it still is and happy about the first market responses to the MXT hoist”, says Mr Arto Juosila, KCI Konecranes’ Group Vice President, Region Asia-Pacific.

MHS headquarters and manufacturing plant are located in Nagoya.

Further information can be obtained from

KCI Konecranes Plc
Rainer Aalto, Director, Business Development
Tel. +358-20 427 2002

Arto Juosila, Group Vice President, Region Asia-Pacific
Tel. + 81 9051137831

KCI Konecranes, headquartered in Hyvinkää, Finland is a world leading Engineering Group specialising in advanced overhead lifting solutions and maintenance services. The Group has annual sales of approximately EUR 714 million with 4400 employees in 34 countries all over the world.

Please note!
Our new company name is
KCI Konecranes Plc