Konecranes Inc. subsidiary increases shareholding in U.S. based MMH Holdings, Inc.

HMM Acquisition Corp., a wholly owned Konecranes Inc. subsidiary, has increased its shareholding from 59.2% to 74.5% in MMH Holdings, Inc., the owner of U.S. based Morris Materials Handling, Inc. The consideration for the additional 15.3% stake amounts to approx. USD 9.9 M.

The purchase price per share was the same as in the acquisition of the 59.2% stake announced on 19 May 2006, where Konecranes Inc. announced its intention to explore possibilities to acquire additional shares in MMH Holdings, Inc.

Further information can be obtained from
Mr. Pekka Lundmark, President and CEO, tel. +358-20 427 2000
Mr. Teuvo Rintamäki, CFO, tel. + 358-20 427 2040

Morris Material Handling, Inc. has over 120 years of history in North America and is a recognised player in the maintenance service and overhead crane industry. Morris Material Handling, Inc. has its headquarters in Oak Creek, Wisconsin. Annual sales for the company in fiscal year 2005 were approximately USD 170 M. First half of fiscal year 2006 sales were USD 102 M, with an operating profit of USD 5.5 M (5.4% of sales). The company has approximately 980 employees. This information is based on Morris Materials Handling financial update published on May 10, 2006.

KCI Konecranes is a world leading crane technology and service-company. Maintenance services are provided for cranes of every make. The product range includes light crane systems, heavy-duty cranes for process industries and shipyards, special harbour cranes for bulk materials and containers as well as reach stackers and lift trucks. In 2005, Group sales totalled EUR 971 million. The Group has over 6,000 employees in 38 countries. KCI Konecranes is listed on the Helsinki Stock Exchange (symbol: KCI1V).

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