BREAKING NEWS – Konecranes and Demag in public takeover scrap

This was a preliminary approach and the management of Demag Cranes has responded that the company has no interest in engaging in any dialogue regarding such a potential combination. To date there have been no concrete negotiations between the two companies.

As Konecranes has previously stated, we believe there is a need for consolidation in the crane industry, particularly in Europe, and is continuously evaluating its strategic options in this respect. We believe that a combination of Konecranes and Demag Cranes would follow a convincing industrial logic and would be highly beneficial to both companies and their respective stakeholders.

Konecranes is convinced that if Demag Cranes were willing to engage in a dialogue, a structure for a potential business combination could be agreed that would be in the interest of both companies’ stakeholders and also be viable from a regulatory perspective. However, currently there is no certainty that any transaction will materialize.