Business Services Industry
KCI Konecranes Plc signs MoU to acquire Material Handling division of R. STAHL AG
Nordic Business Report, Oct 26, 2005
NORDIC BUSINESS REPORT-26 October 2005-KCI Konecranes Plc signs MoU to acquire Material Handling division of R. STAHL AG(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish engineering group KCI Konecranes Plc said on Wednesday (26 October) that it had entered into a Memorandum of Understanding (MoU) with Germany-based R. STAHL AG to acquire its Material Handling division.
In 2004 the Material Handling division generated sales of EUR113m, accounting for 46% of the R. Stahl Group's turnover.
The management of R. STAHL believes that, united with KCI Konecranes, R. STAHL Fordertechnik would be able to assume a better position medium- to long-term in a highly competitive market than it would as part of the R. STAHL technology group.
In case of successful completion of the negotiations, the agreement on the sale would be signed by the end of November 2005.
One euro (EUR) is worth approximately 0.68 British pounds (GBP).
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