Relationship between Demag Cranes and Mitsubishi Heavy Industries Subsidiaries is Clarified

Demag Cranes AG, Düsseldorf, Germany, denied the announcements published this week by the Bloomberg news agency concerning initial talks between Demag subsidiary Gottwald Port Technology GmbH and Mitsubishi Heavy Industries Ltd. about a general cooperation in the crane business.

“To set the record straight, Gottwald Port Technology concluded a regional agreement in 2006 with MEC Engineering Service Co. Ltd., a subsidiary of Mitsubishi Heavy Industries, for sales and services activities relating to Mobile Harbour Cranes in Japan,” according to a Demag press release. “Talks about how this cooperation with Mitsubishi Heavy Industries should continue have been ongoing for the past three months. These talks have no bearing on the general sales focus of the Demag Cranes' Port Technology segment, which has remained unchanged.”