Konecranes plans further cost-cutting programme
Finnish container handling equipment manufacturer Konecranes has told investors that it is preparing a major structural cost-cutting programme but was not ready to announce the details yet.
The company is aiming to increase its equipment business profit margin from 4% to 8% while the service business aims for a margin of 12-13%.
To achieve this, the company is currently pursuing a €30m (US$32m) cost-cutting programme, mainly in the equipment division, which Acting CEO Teo Ottola said is “on track”. The programme was first announced in December 2014 and is scheduled to be completed by the first quarter of 2016.
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