Finnish cargo handling equipment manufacturers Cargotec and Konecranes have agreed to merge, aiming to form a global leader in the next generation of sustainable material flow.
The proposed combined company will look to unlock value together through synergies of €100m (US$120m) annually that are expected to be achieved in full within three years from completion, along with complementary skills and increased R&D scale.
The partners, which last year had combined sales of €7bn (US$8bn) and an operating profit of €565m (US$660m), hope to “solve the sustainability challenge” through innovation in automation, robotics, electrification and digitalisation.
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