Konecranes and Kito alliance to dissolve

Konecranes has announced that its strategic alliance with hoist manufacturer Kito will be dissolved allowing the latter to bid in a business the Finnish company committed to divest in relation to Terex’s MHPS acquisition.

The dissolution of the alliance will enable Kito to participate in the bidding process for Stahl CraneSystems, the divestment of which is a condition to the European Commission (EC)’s approval of Konecranes’ acquisition of Terex’s material handling and port solutions (MHPS) segment.

Despite the alliance’s dissolution, the non-exclusive cross-distribution arrangements between Konecranes and the Japan-headquartered Kito will remain valid.