Konecranes Oyj - Company Announcement

KONECRANES PLC - TEREX CORPORATION ANNOUNCES EXPIRATION OF CONSENT SOLICITATION AND RECEIPT OF REQUISITE CONSENTS FROM HOLDERS OF NOTES

KONECRANES PLC  STOCK EXCHANGE RELEASE  September 8, 2015

Hyvinkää, Finland, September 8, 2015 - Terex Corporation (NYSE: TEX) ("Terex")
announced today that it has received the requisite consents (the “Consents”)
with respect to its previously announced consent solicitation from holders of
its USD 850,000,000 6.00% Senior Notes due 2021 and USD 300,000,000 6.50%
Senior Notes due 2020 (jointly, the “Notes”) to certain proposed amendments to
the indentures governing “Change of Control” and certain other terms and
conditions of the Notes. The consent solicitation was conducted by Terex in
connection with the previously announced merger (the “Merger”) of Terex with
Konecranes Plc (“Konecranes”). 

Due to the receipt of the Consents, and subject to certain remaining conditions
to the consent solicitation, the Merger will not constitute a "Change of
Control" under the indentures governing the Notes. Consummation of the merger
is expected to occur in the first half of 2016, subject to satisfaction of
closing conditions including approval by Terex's stockholders and Konecranes'
shareholders. 

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations


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


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 2014, Group sales totaled EUR 2,011 million. The Group has 11,900
employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq
Helsinki (symbol: KCR1V). 


DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com


Forward Looking Statements

This document contains forward-looking statements regarding future events,
including statements regarding Terex or Konecranes, the consent solicitation,
consummation of the Merger and the intended guarantee by Konecranes of the
Terex Notes. These statements involve risks and uncertainties that may cause
results to differ materially from those set forth in the statements. When
included in this document, the words “may,” “expects,” “intends,”
“anticipates,” “plans,” “projects,” “estimates” and the negatives thereof and
analogous or similar expressions are intended to identify forward-looking
statements. However, the absence of these words does not mean that the
statement is not forward-looking. Terex and Konecranes have based these
forward-looking statements on current expectations and projections about future
events. These statements are not guarantees of future performance. 

Because forward-looking statements involve risks and uncertainties, actual
results could differ materially. Such risks and uncertainties, many of which
are beyond the control of Terex and Konecranes, include among others: changed
market conditions, the conditions for completing the Merger, the participation
of and level of participation by the holders of Notes in the consent
solicitation, and other factors, risks and uncertainties that are more
specifically set forth in Terex' public filings with the SEC and Konecranes'
annual and interim reports. Each of Terex and Konecranes disclaim any
obligation to update the forward-looking statements contained herein. 

IMPORTANT ADDITIONAL INFORMATION

This document relates to the proposed merger of Terex and Konecranes, through
which all of Terex' common stock will be exchanged for Konecranes ordinary
shares (or American depositary shares, if required). This document is for
informational purposes only and does not constitute an offer to purchase or
exchange, or a solicitation of an offer to sell or exchange, all of common
stock of Terex, nor is it a substitute for the Preliminary Prospectus included
in the Registration Statement on Form F-4 (the “Registration Statement”) to be
filed by Konecranes with the SEC, the Prospectus / Proxy to be filed by Terex
with the SEC, the listing prospectus of Konecranes to be filed by Konecranes
with the Finnish Financial Supervisory Authority (and as amended and
supplemented from time to time, the “Merger Documents”). No offering of
securities shall be made in the United States except by means a prospectus
meeting the requirements of Section 10 of the U.S. Securities Act of 1933. 

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE MERGER DOCUMENTS AND ALL
OTHER RELEVANT DOCUMENTS THAT KONECRANES OR TEREX HAS FILED OR MAY FILE WITH
THE SEC, NASDAQ HELSINKI OR FINNISH FINANCIAL SUPERVISORY AUTHORITY WHEN THEY
BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION
THAT INVESTORS AND SECURITY HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION
REGARDING THE PROPOSED MERGER. 

The information contained in this document must not be published, released or
distributed, directly or indirectly, in any jurisdiction where the publication,
release or distribution of such information is restricted by laws or
regulations. Therefore, persons in such jurisdictions into which these
materials are published, released or distributed must inform themselves about
and comply with such laws or regulations. Konecranes and Terex do not accept
any responsibility for any violation by any person of any such restrictions.
The Merger Documents and other documents referred to above, if filed or
furnished by Konecranes or Terex with the SEC, as applicable, will be available
free of charge at the SEC's website (www.sec.gov) or by writing to Anna-Mari
Kautto, Investor Relations Assistant, Konecranes Plc, P.O. Box 661, FI-05801
Hyvinkää, Finland or Elizabeth Gaal Investor Relations Associate, Terex, 200
Nyala Farm Road, Westport, CT 06880, USA. 

Konecranes and Terex and their respective directors, executive officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies in respect of the transaction. Information regarding
Konecranes' directors and executive officers is available in Konecranes' annual
report for fiscal year 2014 at www.konecranes.com. Information about Terex'
directors and executive officers and their ownership of Terex ordinary shares
is available in its Schedule 14A filed with the SEC on April 1, 2015. Other
information regarding the interests of such individuals as well as information
regarding Konecranes' and Terex' directors and officers will be available in
the proxy statement/prospectus when it becomes available. These documents can
be obtained free of charge from the sources indicated above.