KCI Konecranes buys Morris

Finnish industrial crane manufacturer KCI Konecranes has purchased the UK's Morris Material Handling (MMH), also an industrial crane-maker, for UK£ 8.5 million (€12.1 million).

Morris, which employs 340 people, has 16 service branches throughout the UK and its own distributor network across Europe, and in the Middle and far East. Sales for the financial year ending June 2004 were £ 25 million (€38 million).

Commenting on the acquisition, KCI Konecranes' executive vice president Pekka Lundmark said, "MMH and KCI Konecranes' UK maintenance organisation, Lloyds Konecranes (formerly Lloyds British Ltd), are old sister companies, with decades of joint history. The two companies are therefore uniquely positioned to exploit considerable synergies.”

Steve Davis, MMH managing director, said, “To fulfil the potential of MMH we have always considered it necessary for the company to be a member of a larger Group dedicated to the manufacture of cranes and the provision of aftermarket services. MMH will benefit from access to the resources within the KCI Konecranes Group to accelerate the technical advancement of its product offering and increase its market penetration providing long-term benefits to its customers, suppliers and employees.”