Konecranes said on Thursday it has completed the acquisition of Jebsen & Jessen’s 50% stake in MHE-Demag, as announced on December 5, 2019.
The combined operations of Konecranes and MHE-Demag start on January 2, 2020.
With the acquisition, Konecranes increases its presence and market coverage in strategically important and fast-growing Southeast Asia, the Finnish company said. In addition, the acquisition allows Konecranes to target total annual synergies of approximately EUR 10 million at the EBITA level by 2022, it added.