Konecranes Divests MHE-Demag Industrial Products Business to Jebsen & Jessen Group
Konecranes Oyj announced its planned divestment of the MHE-Demag Industrial Products (IPD) Business to Jebsen & Jessen Group. The deal is expected to close in April, allowing Konecranes to sharpen its focus on lifting equipment and services.
Konecranes Oyj has announced the planned divestment of its MHE-Demag Industrial Products (IPD) business to the Jebsen & Jessen Group. The transaction is anticipated to be finalized in April.
This divestment allows Konecranes to concentrate on its core businesses, particularly lifting equipment and services, both in Southeast Asia and globally. The IPD unit specializes in products such as dock levellers and parking systems.
"The divestment of our IPD business back to Jebsen & Jessen will allow Konecranes to fully focus on growth in our core businesses in the region and leverage the earlier acquisition of full ownership in MHE-Demag," stated Marko Tulokas, SVP of Industrial Service & Equipment, Region APAC at Konecranes. "During our strategic review, Jebsen & Jessen stood out as the right fit."
The business acquired by Jebsen & Jessen Group will operate under the name 'MHE'. It will form the material handling equipment division of Jebsen & Jessen Technology, encompassing manufacturing, engineering, rental, trading, and servicing of a comprehensive range of industrial and material handling products.
Konecranes previously acquired Jebsen & Jessen's stake in MHE-Demag in January 2020. This strategic move aims to streamline Konecranes' operations and enhance its focus on lifting technology.