Brussels authorizes Konecranes to acquire to determined conditions division MHPS of the Terex



The EU commission, according to the regulations EU on the concentrations, has given the go-ahead free to the acquisition by the Konecranes Finn of the division Material Handling & Port Solutions (MHPS) of the American Terex Corporation, than it takes care of the production and commercialization of crane and means of handling of the container, subjecting it to determined conditions ( on 17 May 2016). The authorization, in fact, is granted on condition that Konecranes yields the branch Stahl CraneSystems that commercializes industrial cranes, members of crane and spare parts.

Brussels has explained that the lead preliminary investigation from the Commission has evidenced that the acquisition, as initially notified to the Commission 17th june, would create important overlaps between the activities of Konecranes and Terex in the segment of the supply of tackles constituents to chain and tackles to rope that are members used for the means let alone crane construction for handling of the container.

Moreover the Commission has specified that the investigation has revealed that the operation could reduce in meaningful way the competition in the markets of the supply of these types of tackles, in particular in Germany and France, date the consisting market share that would be stopped by Konecranes after the transaction, than instead currently in this field is the concurrent of the Terex, and date the presence of a solo other important supplier in European economic Spazio, that is British Abus.

The Konecranes has already communicated to the EU commission the intention to yield the Stahl, company that in 2015 has recorded revenues for 145 million euros and that some 700 people appoints to a job. "The cession of the Stahl CraneSystems - it has emphasized the president and managing director of the Konecranes, Panu Routila - will not have an impact on the industrial logic that is behind the acquisition of the MHPS. For example - Routila has explained - the previewed operating synergies of the value of 140 million euros that will be realized over three years from the completion of the acquisition of the MHPS will remain substantially unchanged".

The Finnish group has specified that the cession will include the productive plants of the Stahl in Germany, sale - it has observed the EU commission - that will totally eliminate the overlaps caused from the acquisition in Germany and half of the overlaps that the transaction will determine in France, while at the level of European economic Spazio the cession of the Stahl the overlaps in the segment of the tackles to rope and half of the overlaps in that of the tackles rimuoverà totally constituents to chain.

Konecranes and Terex will not be authorized to complete the passage of property of division MHPS until when the Commission does not approve of the relative transaction to the cession of the activities and the assets second the engagements assumed from the Finnish group.

Konecranes and Terex preview at the beginning to conclude the transaction of 2017, as from program, after to have obtained the authorizations from the competent authorities.