Konecranes has offered the divestment of its subsidiary business, STAHL CraneSystems, in order to ease European Commission (EC) concerns over hoist supplies in the European Economic Area, ahead of the planned acquisition of Terex Corporation’s Material Handling & Port Solutions (MHPS).
The EC is expected to reach a decision by August 8, 2016; Konecranes and Terex have expressed that they are still fully committed to the merger.
Panu Routila, President and CEO of Konecranes, said: “We have had a very constructive dialogue with the European Commission. As a result, we have offered to divest our STAHL CraneSystems business. We believe that this offer will fully resolve the Commission’s concerns and that we are able to proceed with the MHPS Acquisition.”
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A shareholders meeting will be held on September 15, 2016 for votes involving the acquisition.
In July, 2016 Konecranes delivered six RTGs to the Port of Valencia and four reach stackers to Sri Tang Logistics, Thailand.
Fact File: STAHL CraneSystems is a global supplier of hoisting technology and crane components. Its customers include distributors and crane builders, as well as EPC companies. STAHL CraneSystems is headquartered in Künzelsau, Germany.
