Monday, January 17, 2011

Another Acquisition For Finnish Crane Group

Konecranes Buys Into South America
Shipping News Feature

FINLAND – CHILE – PERU –BOLIVIA - Specialist lifting group Konecranes have acquired Gruas Koman Limitada, the former licensee of Konecranes in Recoleta, Santiago, Chile for an undisclosed sum. The acquisition also includes the Peruvian start-up subsidiary, Koman Gruas Peru S.R.L. The companies specialize in providing advanced overhead lifting solutions and maintenance services in Chile, Peru, and Bolivia.

Gruas Koman Limitada has been a Konecranes licensee for standard duty cranes since the early 1990s. The acquired company has almost 60 full-time employees, of which half are crane technicians. The company has an established crane maintenance business in Santiago, Antofagasta, Calama and other areas of Chile’s mining districts.

In this, their one hundred and first year the acquisition is intended to provide an opportunity for Konecranes to further consolidate and ultimately expand its penetration into the overhead lifting equipment market in Chile, Peru, Argentina, and the rest of Spanish-speaking South America. Konecranes has, up until now, served this market via its fully-owned subsidiary originating from the earlier Morris Material Handling acquisition in 2006.

The Finnish group say they do not expect the deal to have a material effect on their 2011 financial results and Tom Sothard, Senior Vice President and head of Konecranes Region Americas, said:

“South America holds a great potential for the future growth of Konecranes. Gruas Koman is, via its installed base of equipment, an excellent base for building our service, parts and equipment business in South America.”

Photo: A Konecranes Ship to Shore Overhead Gantry ships container freight in the port at Barcelona.