Konecranes Oyj - Company Announcement

Konecranes Plc - Strategic alliance with Kito Corporation to be dissolved, Konecranes to tender all its Kito shares to Kito

KONECRANES PLC  STOCK EXCHANGE RELEASE  September 26, 2016 at 10:35

Konecranes and Kito Corporation (“Kito”) have decided to dissolve the strategic
alliance signed on March 23, 2010, between the companies. While the alliance
has been successful in certain areas, the parties have agreed that it is in the
companies’ interest to pursue their respective strategies independently. 

The non-exclusive cross-distribution arrangements between the companies remain
valid. Konecranes will continue to sell Kito manual products (chain hoists and
lever hoists) using the Konecranes brands, whereas Kito will continue to sell
wire rope hoists made by Konecranes under its own brands. 

The dissolution of the strategic alliance will allow Kito to participate in the
bidding process for STAHL CraneSystems that Konecranes has committed to divest
in relation to its pending acquisition of Terex’s MHPS business. 

Kito has on September 26, 2016, announced that it will conduct a share
repurchase of 5,950,000 shares on September 27, 2016. Konecranes has notified
Kito that, due to the dissolution of the alliance, it will tender all its
5,950,000 Kito shares to be repurchased by Kito. 

Kito has been consolidated as an associated company in Konecranes’ financial
reporting. 


KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations


FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc, tel. +358 (0)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 2015, Group sales totaled EUR 2,126 million. The Group has 11,400
employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq
Helsinki (symbol: KCR1V). 


DISTRIBUTION
Nasdaq Helsinki
Major media
www.konecranes.com