Konecranes acquires WMI Cranes of India
18.02.2011 – Konecranes has announced that it has completed the acquisition of Indian crane company WMI Cranes Ltd. According to Konecranes, this marks an important step in strengthening its position in the growing Indian crane market. In 2010, WMI’s net sales exceeded EUR 30 million and it has a strong order book to support further net sales growth in 2011.
Konecranes is acquiring WMI’s shares in two phases. In the first phase it has acquired 51 percent of the shares for INR 1,690 million (EUR 28 million). In the second phase, estimated to take place later during 2011, Konecranes will purchase the remaining 49 percent of the shares.
For more information:
Mikael Wegmüller, Vice President, Marketing and Communications, Konecranes plc
Tel. +358 20 427 2008