The year saw it make the two largest acquisitions in its history, with the purchase of Stahl CraneSystems at the end of 2005 and MMH Holding Inc in May 2006. These acquisitions contributed considerably to growth in net sales, orders and profits.
Demand for Konecranes’ products and services increased over the year, as it expanded and consolidated its industrial output, while port investments and customers’ outsourcing of crane maintenance continued to grow. Demand improved in almost all market segments, with harbours, primary metals, power and petrochemicals showing particularly strong growth, reported the company.
Demand also grew in all geographic markets, most strongly in Germany and the USA, though emerging markets such as China and Russia also performed well. In total, Konecranes received orders worth €1.47bn (US$1.06bn) in 2006. This was an increase of 38.8% on the previous year, of which 13.8% was organic (i.e. not due to acquisitions).