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Gloomy assessment of demand from Konecranes CEO

Gloomy assessment of demand from Konecranes CEO

“Unfortunately the situation has not become any easier during the first two-and-a-half months of the year and no improvement is currently visible,” said Lundmark.

“We have earlier estimated that the new equipment market will decrease clearly in the developed countries and to a lesser extent in the emerging markets, and this development seems to be [being realised]. The market for services is more stable than the new equipment market but it seems to be suffering from this situation as well, at least in the short term.”

He continued: “There are quite a few projects in a planning phase globally, for instance in the energy sector, and our offers are at an acceptable level too. But customers are hesitant and are postponing their decisions. Thus, the short-term outlook for new orders is unsatisfactory.”

In 2008, Konecranes’ sales totalled €2.1bn. The group has 9,900 employees at 485 locations in 43 countries, and is listed on the Helsinki stock exchange.