Konecranes Oyj - Company Announcement

KONECRANES PLC - KONECRANES HAS COMPLETED THE ACQUISITION OF INDIAN WMI CRANES LTD.

KONECRANES PLC STOCK EXCHANGE RELEASE February 18, 2011 at 13:15

On October 11, 2010, Konecranes announced that it had entered into an agreement
to acquire the Indian crane company WMI Cranes Ltd. (“WMI”). Konecranes has now
received the required regulatory approvals, and WMI will be consolidated into
Konecranes' financial reporting from February 1, 2011. The acquisition is
expected to be slightly EPS accretive in 2011. 

Konecranes is acquiring WMI's shares in two phases. In the first phase
Konecranes acquired 51 percent of the shares for INR 1,690 million (EUR 28
million). In the second phase, estimated to take place later during 2011,
Konecranes will purchase the remaining 49 percent of the shares. The sellers
are entitled to a performance linked part of the purchase price and the total
maximum price for 100 percent of the shares in WMI can amount to approximately
INR 3,600 million (EUR 60 million). 

The acquisition marks an important step in strengthening Konecranes' position
in the growing Indian crane market. In 2010, WMI's net sales exceeded EUR 30
million and it has a strong order book to support further net sales growth in
2011. 

For more information on Konecranes' acquisition of WMI, please consult the
stock exchange release of October 11, 2010. 

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations


FURTHER INFORMATION
Analysts and Investors:
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc,tel. +358 20 427 2050

Press:
Mikael Wegmüller, Vice President, Marketing and Communications, Konecranes Plc,
tel. +358 20 427 2008 

Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2010, Group sales totaled EUR 1,546 million. The Group has 10,000
employees at 578 locations in 46 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V). 

DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com