Konecranes and Cargotec outline operating model for merger

Multicolor shipping containers stacked high at a port.

Finnish crane manufacturer Konecranes previously announced that they will be merging with Cargotec to form a global leader in sustainable material flow, the Future Company.

For this merger, which is expected to take place by the end of H1 2022, both companies have announced the planned high-level operating model and leadership team for the new company.

In a statement from Konecranes, the Future Company aims to be a customer-centric organisation of top global talent. To achieve this aim, the company has opted for a customer-centric operating model utilising its four independent businesses in different customer segments, these being industrial, maritime, ports and roads.

After the completion of the merger, Cargotec’s current MacGregor business will continue to serve shipbuilders, shipowners, and operations in the maritime sector. Kalmar and Konecranes’s Port Solutions will deliver end-to-end material handling solutions including equipment, software, and services to ports. Cargotec’s Hiab will continue to provide on-road load handling equipment, intelligent services and smart and connected solutions. Finally, Konecranes will operate in the industrial business segment.

“The planned high-level operating model of the Future Company is the result of months of integration planning work and the benchmarking of best practices across various industries, and the selection of the planned leadership team is the result of a rigorous selection process,” said Mika Vehviläinen, President and CEO of the Future Company.

“Today marks a major step forward on the road to creating a global leader in sustainable material flow, and I’m confident we will have the right leaders to unlock that potential.”

The planned operating model will also see technology drive sustainability and the company’s efforts in elements such as advanced research, innovation, group IT and digital.

Heads for departments such as Integration and Strategy and M&A have also been elected. These have been confirmed by both companies’ Boards of Directors.

Konecranes also recently announced that it is to supply LOGISTEC USA Inc. with two new eco-efficient Konecranes Gottwald Generation 6 Mobile Harbour cranes to help reduce its marine carbon footprint and enhance container handling at its container terminal in the Port of Manatee.

The order was made in August 2021 and delivery is scheduled to be completed by February 2022.

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