Konecranes Oyj - Company Announcement

KONECRANES PLC - KONECRANES PLC STOCK EXCHANGE RELEASE August 11, 2011 at 10:00

KONECRANES HAS INCREASED ITS OWNERSHIP IN WMI CRANES LTD. TO 100 PERCENT

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
completed the second phase of the acquisition whereby its ownership in WMI has
increased from 51 percent to 100 percent. 

Konecranes acquired WMI's shares in two phases. In the first phase in February,
Konecranes acquired 51 percent of the shares for INR 1,690 million (approx. EUR
28 million). In the second phase Konecranes purchased the remaining 49 percent
of the shares. The total price for 100 percent of the shares in WMI amounted to
INR 3,578 million (approx. EUR 57 million). The purchase price includes approx.
EUR 2 million investment in WMI's equity according to the purchase agreement. 

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. The acquisition is expected to have a neutral impact on the EPS 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 almost
11,200 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