Konecranes, a world-leading lifting equipment manufacturer serving manufacturing and process industries, today revealed that it has acquired the remaining 80.5 percent of the share capital in crane and service company Dynamic Crane Systems Ltd (DCS) in South Africa.
In June 2007, Konecranes acquired 19.5 percent of the company shares with a call option to acquire the remaining by December 31, 2009.
DCS had annual net sales of approximately 8 million euros in 2008 and 75 employees.
It will be consolidated in Konecranes' numbers as of October 2009.
"South Africa is the economic powerhouse of Africa, leading the continent in industrial output and mineral production and generating a large proportion of Africa's electricity," says Pierre Boyer, President, EMEA region, Konecranes. "The country has abundant natural resources, well-developed energy and manufacturing sectors and a modern infrastructure, supporting efficient distribution of goods throughout the southern African region. Not only is South Africa itself an important economy, it is also an excellent gateway to other African markets."
DCS's headquarters and manufacturing facility are in Alrode, close to Johannesburg and it runs a service office in the Durban, KwaZulu-Natal region. DCS serves many key industry areas in the Sub-Saharan region including mining, energy, steel, aluminium, paper and general manufacturing.
The company name will be changed to Konecranes (Pty) Ltd and the present owners will continue working for the company on a consultative basis.
SOURCE: www.konecranes.com
Edited by Ellie Duncan
In June 2007, Konecranes acquired 19.5 percent of the company shares with a call option to acquire the remaining by December 31, 2009.
DCS had annual net sales of approximately 8 million euros in 2008 and 75 employees.
It will be consolidated in Konecranes' numbers as of October 2009.
"South Africa is the economic powerhouse of Africa, leading the continent in industrial output and mineral production and generating a large proportion of Africa's electricity," says Pierre Boyer, President, EMEA region, Konecranes. "The country has abundant natural resources, well-developed energy and manufacturing sectors and a modern infrastructure, supporting efficient distribution of goods throughout the southern African region. Not only is South Africa itself an important economy, it is also an excellent gateway to other African markets."
DCS's headquarters and manufacturing facility are in Alrode, close to Johannesburg and it runs a service office in the Durban, KwaZulu-Natal region. DCS serves many key industry areas in the Sub-Saharan region including mining, energy, steel, aluminium, paper and general manufacturing.
The company name will be changed to Konecranes (Pty) Ltd and the present owners will continue working for the company on a consultative basis.
SOURCE: www.konecranes.com
Edited by Ellie Duncan
