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Konecranes Enters the Machine Tool Service Business

Wednesday, October 28, 2009

In October 2009, Konecranes expanded its machine tool service (MTS) business to the U.S. by acquiring the company Machine Tool Solutions Unlimited in Cincinnati, Ohio. Machine Tool Solutions Unlimited was founded in 2003 and provides a wide range of services to customers, including machine tool rebuilding, control retrofits, preventive maintenance, calibration and repair services. The annual net sales of the company in 2008 were approximately 3.5 MEUR (5.2M USD). The company has 18 employees. The value of the acquisition is not disclosed.

“We are pleased and excited to announce the addition of this strong regional company into the Konecranes family of global businesses,” says Tom Kurtz, General Manager, MTS, Konecranes Region Americas. “This is a technically challenging market with strong growth potential in the United States. Combining the extensive footprint of Konecranes with the skills and capabilities of Machine Tool Solutions Unlimited we are confident that our expanded service offering will be appealing to existing and new customers alike.”

Machine Tool Solutions Unlimited is Konecranes’ first MTS acquisition in the U.S. The previous owner and founder of the company, Mr. Harold Schoch, will continue in the newly acquired company. The acquisition of Machine Tool Solutions Unlimited is an opening for the strategic goal of building a MTS service network in the Americas. The company has a good amount of resources and customers, forming a base for further development.

Konecranes’ MTS business has until now been concentrated within the Nordic countries and the U.K. Through this recent acquisition Konecranes is able to expand its MTS offering to North, Central and South America. www.konecranes.com

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