Konecranes Increases its Ownership to 100 Percent in Japanese Joint Venture

Konecranes announced last week it has finalized the agreement to increase its ownership in MHS Konecranes to 100 percent by acquiring the remaining 35 percent stake from Meidensha Corp.

As part of the strategic alliance announced earlier this spring, Konecranes and Kito signed a Memorandum of Understanding in which Konecranes intends to sell the hoist distribution business of its Japanese joint venture MHS Konecranes to Kito. Prior to the final agreement, Konecranes’ intention was to increase its ownership in MHS Konecranes to 100 percent by acquiring the remaining 35 percent stake from Meidensha Corporation. This ownership increase has now been finalized.