KCI Konecranes keeps pace with its takeovers10 November 1998
KCI Konecranes has agreed the takeover of the German crane manufacturers Trost & Hilterhaus GmbH and Kran-und Stahlbau Ludwig GmbH.
The purchase price has not been disclosed but the two companies have total net sales of about DM28m ($17m). According to KCI Konecranes president Stig Gustavson, these deals make it among the four biggest standard EOT crane suppliers in Germany, one of the largest EOT markets in the world.
“Together with the group’s service network which was acquired in 1997 from the MAN Group, the acquired companies will place KCI Konecranes into the top league among German suppliers,” said Gustavson. The deal is due to close by the year-end.
Trost & Hilterhaus’s sales and administration office is in Ansbach while its engineering and production takes place in Roth, both close to Nürnberg. Kran-und Stahlbau Ludwig is based in Liebengrün. Both companies were jointly owned by Helmut Trost and Friedrich Hilterhaus, who remain as joint managing directors of the companies.
Meanwhile in North America, Konecranes Canada has paid C$1.6m (about $1m) in cash to Andaurex Industries Inc to acquire most of the assets and business of Provincial International Cranes Inc.
Provincial no longer manufactures cranes but is attractive to Konecranes as it provides opportunities in the maintenance business. The acquisition includes sales records and drawings for 8,000 cranes.