Industrial crane manufacturer Konecranes has acquired Indian crane company WMI Cranes Ltd for around US$80 mn. WMI cranes which is a leading manufacturer of heavy duty cranes in the country has more than 4,000 cranes in India and a countrywide sales network on which Konecranes can base development of maintenance services. Konecranes will acquire the WMI shares in two phases; first, 51 per cent for Rs 1,690 mn ($39 mn). About a year later Konecranes will purchase the remaining 49 per cent.
Contact: Konecranes. Website: www.konecranes.com