Konecranes Finance Oy Sold Vacon Shares

KCI Konecranes International Plc’s subsidiary Konecranes Finance Oy, yesterday sold 1,2 million Vacon Plc shares to Ahlström Capital Oy.

KCI Konecranes originally invested into the then recently established Vacon in order to support a young company with an interesting technology. Today, Vacon is a stabile company with a strong balance sheet, and the strategic reason for us to remain shareholders has ceased to exist, says Stig Gustavson, President and CEO of the KCI Konecranes Group.

The proceeds will primarily be invested into measures improving the productivity and growth within core business areas in Germany, France, the U.S. and Finland. The transaction will therefore have little effect on Group result for the year 2001.

The transaction will not have an effect on Vacons role as a supplier for KCI Konecranes. KCI Konecranes will remain a major customer for Vacon.

For further information, please contact:

KCI Konecranes International Plc
Teuvo Rintamäki, Chief Financial Officer
Tel. +358-20 427 2040