Konecranes to reallocate resources to emerging markets

In addition, the company will consider discontinuing industrial crane manufacturing in Hyvinkää, Finland and Vic, Spain. Hyvinkää will remain the main location for component manufacturing for heavy-duty industrial cranes and port cranes.

In the Port Cranes Business Unit, Konecranes is to terminate straddle carrier manufacturing in Tauberbischofsheim, Germany which in future will be manufactured at other Group facilities and by the Group´s extensive subcontracting network.

According to the company, these actions will affect approximately 140 employees globally and it expects to incur restructuring costs of approximately EUR10m (US$13m) due to these actions of which approximately EUR6m will be recognised in Q4 figures for 2012 and the remainder in Q1, 2013.