Konecranes to Divest Industrial Products Business to Jebsen & Jessen Group
Lifting equipment company Konecranes Oyj announced plans to divest its MHE-Demag Industrial Products (IPD) business to Jebsen & Jessen Group. The move allows Konecranes to sharpen its focus on core businesses globally.
Helsinki – Konecranes Oyj has announced its intention to sell its MHE-Demag Industrial Products (IPD) business to the Jebsen & Jessen Group. The unit manufactures products such as dock levellers and car park systems.
The divestment is intended to enable Konecranes to concentrate further on its lifting equipment and services operations in Southeast Asia and globally. The transaction is anticipated to be finalized in April.
"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, Industrial Service & Equipment, Region APAC, Konecranes.
The acquired business under Jebsen & Jessen Group will operate as 'MHE', forming the material handling equipment division of Jebsen & Jessen Technology. It will encompass manufacturing, engineering, renting, trading, supplying, and servicing of MHE's full range of industrial and material handling products. Key markets for MHE include Australia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Konecranes had previously acquired Jebsen & Jessen's 50% stake in MHE-Demag in January 2020.