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Konecranes completes Indian crane acquisition

August 11 - Further to our report on February 21, Konecranes has now completed the second phase of its acquisition of WMI Cranes Ltd increasing its ownership from 51 to 100 percent.

Konecranes acquired WMI's shares in two phases. In the first phase in February, Konecranes acquired 51 percent of the shares for INR1,690 million (USD37.3 million). In the second phase Konecranes purchased the remaining 49 percent of the shares. The total price for 100 percent of the shares in WMI amounted to INR3,578 million (USD79.05 million).

Konecranes says that the acquisition marks an important step in strengthening its position in the growing Indian crane market. In 2010, WMI's net sales exceeded EUR30 million (USD42.7 milion) and it has a strong order book to support further net sales growth in 2011.

Heavy Lift | News

Bilbao gains Norwegian connection thumbnail image

Bilbao gains Norwegian connection

October 22 - Finnlines, part of the Grimaldi Group, has added a port call in Norway to its Biscay service between Bilbao, Spain and St. Petersburg, Russia. 
Views: 211
Scot Explorer launched in Hoogezand thumbnail image

Scot Explorer launched in Hoogezand

October 22 - Scotline Marine Holdings’ 4,800 dwt vessel Scot Explorer has been christened and launched at the Royal Bodewes Shipyard in Hoogezand, the Netherlands.
Views: 174
Wangfoong rescue on track thumbnail image

Wangfoong rescue on track

October 22 - Wangfoong Transportation has been involved in a complex salvage operation in Hong Kong, where it helped to recover three derailed trains.
Views: 198
ZPMC delivers for Hutchison Port Sohar thumbnail image

ZPMC delivers for Hutchison Port Sohar

October 22 - ZPMC’s heavy lift vessel Zhen Hua 19 has delivered two remote-controlled quay cranes and six rubber-tyred gantry cranes to Hutchison Port Sohar’s terminal in Oman.
Views: 204

Heavy Lift Across The World

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