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
Bauma premiere for Jaso flat top crane
The company will exhibit the J235.12 at the exhibition alongside the Low Top J390
Looking back at the iconic Bauma trade show
After a delay and other challenges associated with the Covid-19 pandemic, Bauma 2022 will happen this month in Munich!
Barnhart opens second Ohio location
The addition of the Columbus branch enhances Barnhart’s presence in the Midwest. 
D.Ann Shiffler Editor, American Cranes & 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