Konecranes Acquires Certain Assets of Linde’s Container-Handling Truck Business

The KION Group and Konecranes announced that Konecranes has agreed to buy certain assets of the container-handling truck business of Linde Material Handling, which is wholly owned by KION Group. The two groups have also signed a long-term supply agreement and will collaborate to further increase the global competitiveness of their respective container-handling truck activities. The value of the assets purchased is not disclosed. The transaction is expected to close during the 2nd quarter of 2013.

Both companies will keep reach stackers, empty container handlers, and laden container handlers in their offering, but after a period of time all manufacturing will take place in Konecranes factories. The assets acquired by Konecranes from Linde Material Handling include the respective product rights. In addition, Konecranes will get access to Linde Material Handling’s distribution network. The collaboration improves economies of scale in R&D and manufacturing while enabling both companies to continue to offer container handling trucks to their distribution channels.

“Our lift truck business has been a strong performer within Konecranes Group. The acquisition of certain assets of Linde Material Handling’s container handling business opens wider distribution network for the combined reach stacker and empty container handler offering. We look forward to working with Linde and their distributors; together we are stronger in the market”, said Hannu Rusanen, member of the Group Executive Board of Konecranes and Head of Business Area Equipment.