Port of San Diego showcases tandem-lift features of new MHCs
NewsThe Port of San Diego rolls out its Generation 6 Mobile Harbour Cranes, highlighting their tandem-lift operations.
EU clears Konecranes Terex deal
Konecranes has received approval from the European Commission for its pending acquisition from Terex Corp of all the Terex Material Handling and Port Solutions business lines
The approval is conditional on a commitment by Konecranes to divest its Stahl CraneSystems business. Furthermore, Konecranes and Terex are not allowed to close the MHPS acquisition until the EC has approved the buyer(s) of the Stahl CraneSystems business.
Stahl CraneSystems was acquired by Terex as part of the Demag AG takeover that also bought it all the Gottwald Port Technology business lines.
Konecranes says it will immediately start the divestiture process.
In 2015, Stahl CraneSystems’ external sales totalled €145M and the company has around 700 employees. Stahl CraneSystems makes industrial cranes and hoists. The EC has made no reference to overlaps in the port handling equipment businesses of Konecranes and Terex – STS cranes, RTGs/RMGs, straddle carriers, heavy lift trucks.
“The divestment of Stahl CraneSystems will not affect the industrial logic behind the MHPS acquisition," said Konecranes President & CEO Panu Routila. "The targeted operational synergies of €140M a year within three years from closing the acquisition remain materially intact,”
"Konecranes and Terex continue to be fully committed to the MHPS acquisition and are working closely with other competition authorities to obtain regulatory approvals, to allowing completion of the acquisition in early 2017," stated Konecranes.
Konecranes added that it will not provide further information regarding the financial effects of the Stahl CraneSystems business divestment until the divestment process so allows.
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