Konecranes Acquires Assets of Canadian Crane and Service Company

October 29, 2008 – Konecranes has acquired the business of the Canadian crane and crane service company Provincial Services Crane Specialists, Allanburg, Ontario. The assets were acquired from the owner, who will remain with the company for a transitional period. Provincial Services Crane Specialists has 20 employees and net sales of approx EUR 4 million. The value of the acquisition is not disclosed.

 

Provincial Services Crane Specialists was founded in 1980 and specializes in overhead crane inspection, maintenance, repair, spare parts, modernization, and lifting equipment. The company sells its products and services directly to end users in the steel, mining, power and general manufacturing industries. Through the acquisition, Konecranes will be able to expand its Canadian operations in these industries.

 

"The market coverage of Provincial Services is quite complementary to ours," says Keith King, president, Konecranes Canada, Inc. "Provincial Services will help to provide us with entry to the primary steel industry along with their specific knowledge of this industry, close relationships and Konecranes technologies."