15.09.2009

Demag clarifies talk rumours

Demag Cranes has clarified the details behind its talks with Mitsubishi Heavy industries. It has categorically denied the suggestion that that any talks were underway regarding any form of merger or joint venture between its Gottwald Port Technology business and Mitsubishi’s crane operations.

It says that Gottwald concluded a regional agreement with MEC Engineering Service, a subsidiary of Mitsubishi Heavy Industries, in 2006 for sales and services activities relating to mobile harbour cranes in Japan.

Talks about how this cooperation should continue have been ongoing for the past three months and it is this that will be concluded prior to year-end, rather than anything more significant.

Rumours surrounding the talks were carried widely by the financial press after a Japanese newspaper and the Bloomberg news agency picked up on comments from Mitsubishi management.