As part of the strategic alliance announced March 23, 2010, Konecranes and Kito signed a Memorandum of Understanding according to which Konecranes intends to sell the hoist distribution business of its Japanese joint venture MHS Konecranes to Kito.
Prior to the final agreement, Konecranes’ intention was to increase its ownership in MHS Konecranes to 100% by acquiring the remaining 35% stake from Meidensha Corporation. This ownership increase has now been finalised.
