Konecranes and Demag to Operate Under New Name Konecranes and Demag Private Limited

PUNE, India, February 28, 2019 /PRNewswire/ --

Konecranes and Demag, two world leading brands in material handling industry will now be operating under one company name, Konecranes and Demag Private Limited. This name change follows acquisition of Material Handling & Port Solutions (MHPS) segment from Terex Corporation by Konecranes PLC in 2016. The acquisition led to some of the leading global brands such as Demag, Gottwald and Noell getting added to Konecranes product portfolio. This has enabled the company to consolidate its market leadership by providing a broader range of products, a greater focus on R&D and cover a greater number of markets worldwide.

In India, Konecranes and Demag equipped with a combination of product prowess and state-of-the-art manufacturing facility are now geared to offer products which can be used across industries like General Engineering, Steel, Power, Automotive, Paper to name a few. The company's business of industrial cranes in India which covers brands Konecranes and Demag was operated through two independent legal entities, namely Konecranes Private Limited for brand Konecranes and Voima Cranes and Components Private Limited for brand Demag. Konecranes and Demag have presence in India for 12 and 22 years respectively. Konecranes and Demag together have unmatched product and services portfolio and business location across India for catering to Indian clients. The company has a state of art 48000 sq metre manufacturing facility having patented techniques and capacity of manufacturing more than 1000 cranes per annum, with exports to Middle East, Australia and Asia.

Commenting on the development, Mr. Suhas Baxi, Managing Director, Konecranes and Demag Private Limited, said: "While it is our strong belief that both our brands offer distinct value proposition for its customers and hence will continue to be marketed as independent product brands, we also believe that operating as single legal entity will ease the method of doing business with our customers. Going forward, we will offer both 'Konecranes' and 'Demag' branded products through this common legal entity, Konecranes and Demag Private Limited. It will enable us to compete better in the Indian market place with wider product and services offering with a range of leading brands creating value for our customers."

About Konecranes PLC  

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. The Group has 16,400 employees at 600 locations in 50 countries. Konecranes is listed on the NASDAQ, Helsinki. In Standard Lifting Equipment group, main products include Industrial Cranes, Explosion Proof Cranes, Light Lifting Cranes, Electric Chain Hoists, Electric Wire Rope Hoists and Crane Components.
For more information, please visit: https://www.konecranes.in/about-us

For further details please contact:
Nikhil Vakhare
Mind Matters
+91-9011203666
[email protected]