EC Tentatively Approves Konecranes Acquisition of Terex Material Handling Business

August 8, 2016 - Konecranes received approval from the European Commission for its pending acquisition of Terex’s Material Handling and Port Solutions (MHPS) business pending a commitment by Konecranes to divest its STAHL CraneSystems business and commission approval of the buyer. Konecranes reports it will immediately start the divestiture process.

In 2015, STAHL CraneSystems’ external sales totaled EU$145 million and the company has approximately 700 employees. Konecranes and Terex continue to be fully committed to the MHPS acquisition and are working closely with the competition authorities to obtain regulatory approvals allowing completion of the MHPS Acquisition in early 2017 as planned, according to Konecranes.