KCI KONECRANES ACQUIRES MORRIS MATERIAL HANDLING
KCI Konecranes has acquired Morris Material Handling Ltd (MMH) of the UK. MMHs product range covers electric overhead travelling cranes, monorail and chain hoists and crane maintenance services. For the financial year that ended June 2004, MMH had sales of £ 25m.
37 orders came from Europe, where Belgium was strong with 9 units. Spain and the UK also played an important role with 5 and 4 cranes respectively. In the Nordic countries Gottwald strengthened its position with 4 cranes. In the Middle East one order for six cranes came from Syria and two orders for five cranes from the UAE. With five cranes for Mexico, Puerto Rico, Jamaica and Colombia, Gottwald further consolidated its position in Latin America.
The company has 340 employees of whom 170 are employed in the service business. The acquisition price, on a debt free basis, amounts to £8.5m.
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