Sunday, January 17, 2010

Port And Shipping Terminal Handling Specialist Makes Acquisitions

Konecranes buys up two Support Companies
Shipping News Feature

UK – DENMARK – Konecranes, the Finnish based freight lifting business manufacturer and maintenance company, announced this week the acquisition of two machine tool engineering companies to enhance their presence in the servicing of lifting equipment of all types in the two countries. The two new group members are AH Maskinservice A/S of Horsens, East Jutland and Axis Machine Tool Engineers Limited from East Kilbride in Scotland. The two companies turn over several million euros per annum principally from maintenance and supply of spares and tools to local customers with hydraulic equipment, many within the oil service industry.

The Scottish acquisition is unsurprising as Konecranes announced the closure of their Loughborough plant in October when they moved all services to East Kilbride as part of a reduction in staff numbers due to the recession which has hit manufacturers of cranes, fork lifts, reach stackers etc., particularly hard. Despite the downturn the company has continued to receive orders in a difficult market.