KCI Konecranes president and CEO Stig Gustavson has moved to calm fears that the company’s exposure to the Asian financial crisis will damage profits and sales.
About 20% of KCI’s group sales come from the Asia Pacific region.
Reporting good company results for 1997, Gustavson said: “In South East Asia winning new orders is uncertain in the immediate future, not in Maintenance or Standard Lifting but in Special Cranes. That uncertainty must, however, be put into perspective.
“During the autumn of 1997 and early 1998, the group has clearly demonstrated its ability to win new business outside the Asia Pacific region, in numbers matching or overshadowing any conceivable present Asian exposure.
“We see here a clear benefit from the group strategy of a global presence and a multi-industry customer base. Also, the large portion of Maintenance Service business contributes greatly to business stability and sustained growth.”
