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.
Konecranes says more on Terex MHPS acquisition
The company has released a Q & A document that, inter alia, admits there will be job losses if the deal goes though, although it hopes these will be short-term
Having received the "all clear" from the EU for its takeover of Terex Materials Handling & Port Solutions (MHPS) subject only to disposal of its Stahl Cranesystems business, Konecranes has released more infformation in the run-up to its EGM on 15th September. The US DoJ has also cleared the deal, without conditions.
First, it has released some MHPS financial data:
- Sales (including sales to other Terex BUs) – US$644.6M in H1 2016 (US$735.8M in H1 2015, US$1.542B in calendar 2015).
- Adjusted EBITDA for valuation purposes – US$34.7M in H1 2016 (US$42.0M in H1 2015 and US$118.9M in calendar 2015).
Stahl CraneSystems’ pro forma EBITDA on a stand-alone basis would have been around €30M in 2015 and its external saes in 2015 came to €145M. Konecranes will use the proceeds from the divestment to amortise loans related to the MHPS acquisition.
The Q & A for the EGM has some key points:
There is still nothing definite on whether Konecranes would continue to build its own straddle carriers when Terex MHPS is so strong in this segment, or would it carry on with MHPS heavy forklift truck and masted container lift truck production in Italy given Markaryd's strengths? Or, how precisely would it rationalise its own and MHPS's ARMGs and other automation products and systems? Are these questions even likely to be raised at the EGM and, if they are, how clearly can they be answered?
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