Konecranes strengthens its presence in Japan by entering into an agreement to acquire a majority interest in Mitsubishi Electric FA Industrial Products

AI Summary

Konecranes announced the acquisition of a 70% majority interest in Mitsubishi Electric FA Industrial Products, strengthening its presence in the large Japanese wire rope hoist market. This strategic acquisition supports Konecranes’ global expansion plans.

Konecranes, a global leader in material handling solutions, is proceeding with its strategic plans to expand its global presence by acquiring a majority 70% interest in Mitsubishi Electric FA Industrial Products (“MFK”) belonging to Mitsubishi Electric Corporation. The cash acquisition would enable Konecranes to enter Japan, one of the world’s largest wire rope hoist markets, ...