Konecranes Increases Ownership in Chinese Hoist and Chain Manufacturer

Konecranes has today completed the acquisition of the remaining shares of Jiangsu Three Horses Crane Manufacture Co. Ltd. (“SANMA”) and now owns 100 percent of the company. In November 2009, Konecranes announced that it had finalized the acquisition of a majority holding (65 percent) in SANMA.

The acquisition is an important step for Konecranes and SANMA will continue as one of Konecranes power brands in China. Konecranes will also continue to develop the unit as part of its global supply organization.

SANMA is based in Jingjiang, about two hours drive northwest of Shanghai. SANMA has a strong position as a nationwide supplier of its wire rope hoists in China and as a crane supplier especially in Jiangsu and the neighboring provinces.

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