Konecranes Oyj - Company Announcement

KONECRANES PLC STOCK EXCHANGE RELEASE December 14, 2010 at 9.00

KONECRANES PLC ACQUIRES ALL THE SHARES IN KCR MANAGEMENT OY FROM GROUP EXECUTIVES THROUGH A SHARE SWAP

KONECRANES PLC STOCK EXCHANGE RELEASE  December 14, 2010 at 9.00

KONECRANES PLC ACQUIRES ALL THE SHARES IN KCR MANAGEMENT OY FROM GROUP
EXECUTIVES THROUGH A SHARE SWAP 

The Konecranes Group executives established a company named KCR Management Oy
in May 2009. KCR Management Oy acquired 517,696 Konecranes Plc shares from the
market. The acquisition was financed by capital investments by the executives,
in the total approximate amount of EUR 1.3 million, as well as by a loan in the
approximate amount of EUR 7.1 million provided by Konecranes Plc. The amount of
loan is now approximately EUR 7.0 million. KCR Management Oy is owned by the
executives who belonged to the Group Extended Management Team upon the
establishment of KCR Management Oy. Members of the Board of Directors of
Konecranes Plc are not shareholders in KCR Management Oy. 

According to the agreements governing KCR Management Oy, KCR Management Oy has
an obligation to repay the loan granted by Konecranes Plc prematurely in case
the share price of Konecranes Plc other than temporarily exceeds a certain
level determined in the agreements. This condition has now been met. The Board
of Directors of Konecranes Plc has decided that the loan will be repaid through
a share swap whereby Konecranes Plc acquires all the shares in KCR Management
Oy. To implement the share swap, the Board of Directors of Konecranes Plc has
decided on a directed share issue in which the Company offers, in derogation
from the shareholders' pre-emptive subscription rights, a maximum total of
281,007 new Konecranes shares to the shareholders of KCR Management Oy against
share consideration (Share Swap). In the Share Swap, the shareholders of KCR
Management Oy convey the KCR Management Oy shares they hold and receive new
Konecranes Plc shares in return. 

In this arrangement, all the shares in KCR Management Oy will be transferred to
Konecranes Plc. Through KCR Management Oy, the Company will also receive
517,696 own Konecranes Plc shares as well as the Company's loan receivable from
KCR Management Oy. Afterwards the intention is to merge KCR Management Oy with
Konecranes Plc through a subsidiary merger. In this connection the loan granted
to KCR Management Oy will be set off and the Konecranes Plc shares held by KCR
Management Oy will transfer to the Company's direct ownership. 

When the Share Swap is executed the Konecranes Group executives' previously
indirect share ownership will become a direct ownership in Konecranes Plc. The
number of new shares to be given in the Share Swap has been determined on the
basis of KCR Management Oy's net assets and calculated by using the trade
volume weighted average quotation of the Konecranes Plc share on NASDAQ OMX
Helsinki Ltd on 13 December 2010, both with respect to the issued new shares
and to the shares in Konecranes Plc that KCR Management Oy owns. The new shares
are subject to the transfer restriction determined by the Board of Directors in
May 2009 and expiring on 1 November 2012. 

The new Konecranes Plc shares to be given in the Share Swap are entitled to
carry shareholder rights in the Company after the new shares have been entered
into the Trade Register. The new shares will be registered on the subscriber's
book-entry account and will be applied for public trading on NASDAQ OMX
Helsinki Oy after their Trade Register entry, around week 3 in 2011. 

The decision on the Share Swap is based on the authorizations granted by the
Annual General Meeting of Shareholders on 25 March 2010. Before the Share Swap,
the Company has issued 62,002,120 shares, out of which 2,524,760 shares are
held by the Company. After the Share Swap, the number of issued Konecranes Plc
shares will increase to 62,283,127 shares, out of which the Company will own
2,524,760 shares directly and 517,696 shares indirectly through KCR Management
Oy. 

KONECRANES PLC

The Board of Directors

FURTHER INFORMATION

Stig Gustavson, Chairman of the Board of Directors, tel. +358 20 427 11

Konecranes is a world-leading group of Lifting Businesses(TM), 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 2009, Group sales totalled EUR 1,671 million. The Group has 9,600
employees, in 545 locations in 43 countries. Konecranes is listed on NASDAQ OMX
Helsinki Ltd (symbol: KCR1V). 

DISTRIBUTION

NASDAQ OMX Helsinki Ltd

Major media

www.konecranes.com