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07.12.2016

Konecranes sells Stahl

Konecranes has sold its Stahl Crane Systems business to Columbus McKinnon for between €224 and €230 million in cash.

Columbus McKinnon will also assume unfunded pension liabilities of around €74 million the sale was a contingent part of the European Union approval for Konecranes to acquire Terex port and material handling division.

German based Stahl is a major provider of overhead crane and hoisting technology and components. It will have revenues this year of around €135 million and employs around 650 worldwide. The deal is expected to close by the end of April next year.

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