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History

A century of service

The history of Konecranes dates back to 1910, when the electrical motor repair shop, KONE Corporation, was founded. Konecranes has grown organically over the years but has a strong acquisition track record as well.

In celebration of 10th Anniversary of Konecranes, a special history edition of the Konecranes World Magazine was released. Click to read.

 

 

 
Konecranes History

1933

KONE Corporation started to build sizeable Electric Overhead Traveling Cranes. Our primary customers were from the pulp, paper, and power industry.

1936
 

The company started to manufacture Electric Wire Rope Hoists. Harbor cranes were added to the product range in 1947.

1950's

The harbor cranes business line experienced strong growth during the post-war economy.

1962

Konecranes signed the first Preventive Maintenance Contract with one of its customers.

1973

The company started to expand internationally and made its first acquisition in Norway (Wisbech-Refsum). In 1983, the company established its first foothold in the U.S., R&M Materials Handling in Springfield, Ohio. In 1986, Konecranes acquired a company in France (Verlinde), headquartered in Vernouillet. (A detailed M&A History is available under Investor information)

1988

In 1988, crane operations were organized into the KONE Cranes Division of KONE Corporation.

1990

From 1990 onwards the company kept a high focus on establishing technical leadership.

1991

The company established its own offices in the UK by acquiring the company Lloyds British Testing with operations in the UK and Australia. A large restructuring program was launched and continued until 1994. Among other actions, crane production facilities were cut from 19 to 4.

1994

Konecranes was formed on April 15, 1994, when KONE Corporation, a Finland-based group listed on the Helsinki Stock exchange, sold the operations of its crane division.

1996
 

In 1996, Konecranes was listed on the Helsinki Stock Exchange. Konecranes is a broad, internationally held company.

1997

In 1997, Konecranes made its first acquisition in Germany when MAN SWF Krantechnik, was acquired. Konecranes has experienced high organic growth in Germany and continued with several bolt-on acquisitions in year 2000.

2002

In 2002, Konecranes was the first foreign crane company in China to receive a complete range of business licensees, including import and export. The same year we succeeded in creating a bridgehead in Japan by establishing a joint venture agreement with Meidensha Corporation.

2004

Reach Stackers and Lift Trucks were added to product range through the acquisition of SMV Lifttrucks AB of Markaryd, Sweden.

2005

Konecranes acquisition of R.STAHL AG's material handling division from R.Stahl Fördertechnik of Germany, brought together some of the crane industry's strongest brands and most innovative technologies. Stahl has been a significant player in the field of specialized lifting applications.

2006
 

Konecranes acquired MMH Holdings, Inc and expanded its product range. The acquisition also brought new opportunities for growth in Maintenance Services through the large installed base of MMH cranes.

2007
 

Konecranes acquires two machine tool service companies in Scandinavia, a Finnish container handling software specialist, and a ports service business in Italy.