STAHL CraneSystems has been purchased from Konecranes by material handling products, technologies and services designer, manufacturer and marketer Columbus McKinnon Corporation.
“STAHL brings a well-established brand, an excellent reputation for quality and strong customer relationships,” said Timothy T. Tevens, President and CEO of Columbus McKinnon. “There are several opportunities to create a stronger combined business including expanding the scale and scope of the STAHL product platforms into emerging markets using our established global sales force, and the sharing of intelligence and engineering know-how among our businesses, including smart hoist technology. We believe we have laid the foundation for years of success through global collaboration to generate long-term value for our customers, employees and investors.”
STAHL changed hands for €224 million ($319 million)
Miikka Kinnunen, Vice President, Investor Relations at Konecranes reported that the crane manufacturer expects to book an after-tax capital gain of approximately €200 million ($285 million) from the STAHL Divestment in the first quarter of 2017, adding that the company will use the proceeds from the STAHL CraneSystems divestment to amortize the loans related to the MHPS Acquisition.
