Konecranes has announced the planned divestment of MHE-Demag’s Industrial Products (IPD) Business to Jebsen & Jessen in a deal that is expected to close in April.
With this move, Konecranes aims to focus on its core businesses of lifting equipment and services in Southeast Asia as well as globally.
The IPD business that Jebsen & Jessen Group will buy is part of MHE-Demag, a Konecranes Group member that was previously a joint venture between Jebsen & Jessen and Demag. In January 2020, Konecranes acquired Jebsen & Jessen’s 50% stake in MHE-Demag.
“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, Konecranes senior vice president of Industrial Service & Equipment, Region APAC.
According to a statement, the newly acquired business by Jebsen & Jessen Group will be known as ‘MHE’ and form the material handling equipment division of Jebsen & Jessen Technology, covering manufacturing, engineering, renting, trading, supplying and servicing of MHE’s complete range of industrial and material handling products such as dock levellers and door systems, mechanical car park systems, building maintenance units, boom lifts and Aerial Work Platforms (AWP), warehouse trucks and lift systems.
