Konecranes increased its ownership in Chinese hoist and crane manufacturer SANMA to 100 percent
Konecranes has today completed the acquisition of the remaining shares of Jiangsu Three Horses Crane Manufacture Co. Ltd. (“SANMA”) and now owns 100 percent of the company. In November 2009, Konecranes announced that it had finalized the acquisition of a majority holding (65 percent) in SANMA.
The acquisition is an important step for Konecranes and SANMA will continue as one of Konecranes power brands in China. Konecranes will also continue to develop the unit as part of its global supply organization.
SANMA is based in Jingjiang, about two hours drive northwest of Shanghai. SANMA has a strong position as a nationwide supplier of its wire rope hoists in China and as a crane supplier especially in Jiangsu and the neighboring provinces.
Mikael Wegmüller, Vice President, Marketing and Communications
E-mail: firstname.lastname@example.org or phone: +358 20 427 2008
Miikka Kinnunen, Director, Investor Relations
Email: Miikka.email@example.com or phone: +358 20 427 2050
This press release is available at our website www.konecranes.com
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 2013, Group sales totalled EUR 2,100 million. The Group has 11,800 employees at 600 locations in 48 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).