Konecranes subsidiary buys Morris parent

18 April 2008

HMM Acquisition Corp, a wholly owned subsidiary of Konecranes, Inc, in the US, has acquired 59.2% of the shares of US-based MMH Holdings for $38.5 million. MMH Holdings is the parent company of Morris Material Handling, the US overhead crane manufacturer that last year had sales of $170 million. Morris Material Handling employs 980 people in the US.

Konecranes said that no due diligence report had been carried out prior to the acquisition but, “The company has no reason to believe that Morris Material Handling's general business and financial risk profile would materially deviate from what is typical in the US in this field.”

Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Video: Mammoet’s approach to sustainability in lifting and transport
Erica Gray, global sustainability manager at Mammoet, explains the company’s strategic approach to reducing negative environmental impact
Manitex sales jump in second quarter
Manitex CEO Steve Filipov said the boom truck business is tracking to an industry-wide recovery.
What do mast elevators bring to a tower crane jobsite?
The Potain Cab-IN internal mast elevator was developed following the French R.495 tower crane recommendation.
D.Ann Shiffler Editor, American Carnes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com