Terex-Konecranes merger integration suspended “temporarily”

Konecranes has confirmed that post-merger business integration planning discussions with Terex are suspended although it still expects the deal to be completed.

In a statement, the Finnish company said that the halt had come due to the “challenging business environment” coupled with the amount of progress has already been made over the past seven months.

On February 22, Konecranes chairman Stig Gustavson, told Reuters: “The operative development work (between Konecranes and Terex) has come to a point where we can’t go forward before we have approvals from competition authorities.”