What is "konecranes"

Konecranes Plc (KCI Konecranes prior to 16 March 2007) is a Finnish company, headquartered in Hyvinkää, which specialises in the manufacture and service of cranes and lifting equipment as well as the service of machine tools. The firm produces about one in ten of the world's cranes, of which around 80% are for use in factories and the remainder at ports. Konecranes products are made for industries handling heavy loads meaning ports, intermodal terminals, shipyards and bulk material terminals. On August 11, 2015, the company announced that it intended to merge with Terex. Terex shareholders will own approximately 60% of the combined companies, but the transaction will result in the companies headquarters being relocated to Europe to benefit from favorable EU taxation policies.