Konecranes Oyj - Changes board/management/auditors

KONECRANES PLC - MATTI KAVETVUO RESIGNS FROM THE BOARD OF DIRECTORS OF KONECRANES PLC

KONECRANES PLC  STOCK EXCHANGE RELEASE  December 31, 2015 at 16:20

Konecranes Plc Board member Matti Kavetvuo has on December 31, 2015 announced
his resignation from the Board of Directors of the company. Matti Kavetvuo
announces that he has given up other positions of trust during recent years and
that it is now high time to resign also from his last Board membership in a
listed company. The resignation is not related to Konecranes Plc or the merger
with Terex Corporation, other than indirectly in relation to the work load,
which is due to increase significantly at this point as a consequence of merger
preparations. 

There are no other changes to the composition of Konecranes Plc’s Board of
Directors. 

"Matti Kavetvuo joined Konecranes’ Board of Directors in 2001. I want to thank
Matti for his valuable contribution as a member of the Board for 15 years. I
fully understand Matti's reasoning and find his decision to resign very prudent
in a situation when he finds it difficult to cope with the significant increase
in the work load now ahead of us in preparing for the merger" says Stig
Gustavson, Chairman of the Board of Konecranes. 


KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations


FURTHER INFORMATION
Mr. Stig Gustavson, Chairman of the Board, Konecranes Plc, call-back requests
tel. +358 40 195 5511 



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 12,000
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 transaction described
in this document and the expected benefits of such transaction and future
financial performance of the combined businesses of Terex and Konecranes based
on each of their current expectations. 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 Konecranes, include, among others: the ability of
Terex and Konecranes to obtain shareholder approval for the transaction, the
ability of Terex and Konecranes to obtain regulatory approval for the
transaction, the possibility that the length of time required to complete the
transaction will be longer than anticipated, the achievement of the expected
benefits of the transaction, risks associated with the integration of the
businesses of Terex and Konecranes, the possibility that the businesses of
Terex and Konecranes may suffer as a result of uncertainty surrounding the
proposed transaction, 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. Konecranes disclaims 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 of 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.