Konecranes is set to sell MHE-Demag’s Industrial Products (IPD) Business to Jebsen & Jessen, with the deal expected to be completed in April. The move will allow Konecranes to focus on lifting equipment and services in Southeast Asia and globally.
Following the acquisition, Jebsen & Jessen will form the material handling equipment division of Jebsen & Jessen Technology, and will cover the manufacturing, engineering, renting, trading, supplying and servicing of MHE’s entire range of industrial and material handling products. Approximately 300 highly skilled employees are expected to join Jebsen & Jessen Group upon completion of the acquisition, and the business will maintain its commercial presence with all operations continuing as usual.
“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. During our strategic review, Jebsen & Jessen stood out as the right fit with a strong vision and strategy for the IPD business, and I am confident that the industrial product business will continue to flourish in its new home,” said Marko Tulokas, SVP, Industrial Service & Equipment, Region APAC, Konecranes.
“We are excited to welcome the 300-people-strong MHE-Demag Industrial Products (IPD) team to the Jebsen & Jessen Group. The business is already the clear market leader in some segments, and our ambition is to attain market leadership across the portfolio. We are committed to investing in people and the business to achieve our growth ambitions,” said Per Magnusson, Group CEO, Jebsen & Jessen Group. “The acquisition aligns well with our Advance & Build strategy and builds upon our distinctive heritage as a trusted provider of quality industrial products and value-added solutions,” Per Magnusson continues.