Konecranes acquires Munck
Finnish marine and overhead crane manufacturer Konecranes has acquired the industrial crane service operation of Norway’s Munck Cranes, from the company’s administrator.
The deal provides the Finnish company with a large installed base of Munck’s industrial cranes in Norway and overseas. Based in Kokstad – south of Bergen and employed 110.
Munck Cranes has a strong following in the country among the pulp and paper factories, steel mills and hydro-electric power plants. Munck filed bankruptcy proceedings at the end of May. The company had revenues in the region of €8 to 10 million, the industrial crane service business employs around 40 staff located throughout Norway and has remained profitable, while the manudfacturing business was badly hit by rising eneergy costs.
Munck was established as a trading company in 1924 by electrical engineer Sverre Munck, its first products ranged from fuses and light bulbs to escalators, elevators and electric wire rope hoists. It opened its first manufacturing plant in 1946 with a contract to build trolley busses for Bergen, quickly adding hoists and industrial cranes.
Tomas Myntti of Konecranes industrial said :“We welcome our Munck Cranes colleagues to Konecranes and look forward to working together to develop and expand operations in the Nordic region and beyond.”