Business Services Industry
KCI Konecranes signs definitive agreement to acquire R. STAHL Fordertechnik
Nordic Business Report, Dec 21, 2005
NORDIC BUSINESS REPORT-21 December 2005-KCI Konecranes sings definitive agreement to acquire R. STAHL Fordertechnik(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish crane manufacturer KCI Konecranes Plc said on Wednesday (21 December) that it had signed a definitive agreement with the Germany-based R. STAHL AG concerning the sale of STAHL's Material Handling division, R. STAHL Fordertechnik.
The purchase price on a cash and debt free basis is EUR30.5m. In addition KCI Konecranes would assume some EUR30m in pension liabilities.
The operations of R. STAHL Fordertechnik would continue under the STAHL brand and would be part of the group's Standard Lifting Equipment business area.
One euro (EUR) is worth approximately 0.68 British pounds (GBP).
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