Konecranes acquires Ohio Hi-Speed Machine

Konecranes has expanded its machine tool service (MTS) business in the US by acquiring the assets of Ohio Hi-Speed Machine in Cleveland, OH.

Ohio Hi-Speed Machine was founded in 1992 and provides a wide range of services to customers, including machine tool rebuilding, re-designing, control retrofits, preventive maintenance, calibration and repair services. The annual net sales of the company in 2009 were approximately $1.3 million. The value of the acquisition was not disclosed.

"The MTS business of Konecranes in the US is a strategic fit with our traditional core competency in overhead crane maintenance services. With the addition of Ohio Hi-Speed Machine, our growing MTS business allows us to broaden our offering to new and existing customers in a variety of industrial segments," said Tom Kurtz, general manager, MTS, Konecranes Region Americas.