Konecranes' history dates back to 1910 when the electrical motor repair shop KONE Corporation was founded. Konecranes was part of the international Finland-based KONE Corporation until April 15, 1994 when KONE as part of structural changes disposed of all operations, excluding its elevator business. The company sold the operations of its crane division to a group of institutional investors (Sweden-based Industri Kapital) and members of the crane division's senior management.
Konecranes shares have been quoted on the Helsinki Stock Exchange since 1996. Konecranes has grown over the years mainly organically but has a strong acquisition track record as well.
Major acquisitions and joint ventures since 1973
2017 | Acquisition of Terex Corporation’s MHPS business | MHPS, a leading supplier of industrial cranes, crane components, and services under the Demag brand, as well as port technology with a broad range of the manual, semiautomated and automated solutions under several brands, such as Gottwald |
2014 | Sanma (100%) | Chinese hoist and industrial crane manufacturer |
2011 | Saudi Cranes & Steel Works Factory Company Limited | Base for developing business in the Arabian Peninsula |
2011 | WMI Cranes | WMI is one of the leading manufacturers of heavy-duty cranes in India |
2010 | Kito (22%) | Japan, globally renowned hoist and material handling equipment company |
2009 | Machine Tool Solutions Unlimited | The first MTS acquisition in the US |
2009 | Dynamic Crane Systems | South African crane and service company |
2009 | Knight Europe | Germany, expansion to manipulators |
2009 | ACS Technologies | Austria, expansion to manipulators |
2009 | Sanma (65%) | Chinese hoist and industrial crane manufacturer |
2008 | Electron Services | Expansion of MTS to the UK |
2008 | Ausio Sistemas | Spain, sales and service of industrial cranes and hoists |
2007 | Kongsberg Automation | Norway major player in Norwegian MTS |
2007 | Consens Transportsystems | Germany, straddle carries |
2007 | Savcor One Oy | Finland, container handling software specialist |
2006 | Morris Material Handling | USA, well known for cranes and services under P&H brand, specialized in lifting equipment for nuclear industry |
2005 | Zaporozhcrane | Ukraine, crane manufacturing |
2005 | R. Stahl Fördertechnik | Germany, renowned hoist and crane company specialized in explosionproof hoists |
2004 | SMV Liftrucks | Sweden, lift trucks and reach stackers |
2004 | Morris Material Handling | UK, industrial cranes and maintenance services |
2002 | Meiden Hoist System Company | Joint venture with hoist manufacturer in Japan |
2000 | Noell Service und Maschinentechnik | Germany, port service |
1998 | Trost & Hilterhaus | Germany, industrial cranes |
1998 | Overhead Crane Service | USA, Baltimore, Maryland |
1997 | MAN SWF Krantechnik | The first acquisition in Germany |
1993 | Kranco | USA, maintenance services |
1991 | Lloyds British Testing | UK, Australia, maintenance services |
1987 | Landel | USA ,process cranes |
1986 | Verlinde | France, expansion in Europe and to chain hoists |
1983 | R&M Materials Handling | Expansion to the US hoist business |
1973 | Wisbech-Refsum | Norway, the first acquisition abroad |