Konecranes buys Morris Cranes

By Staff -- Modern Materials Handling, 7/1/2006

Finland-based KCI Konecranes has purchased Morris Material Handling, supplier of Morris and P&H Cranes. Konecranes made the acquisition in a series of transactions that totaled approximately $64.6 million.

Morris will operate as an independent entity within the KCI Konecranes Group and will maintain its U.S. headquarters in Wisconsin. With the acquisition, Konecranes projects annual revenue in the range of $1.9 billion, including new equipment sales and service of existing cranes.

Morris has a long tradition of providing heavy duty overhead cranes for the North American nuclear, steel and lumber industries. Konecranes also has a large customer base in the steel industry, as well as in paper mills, power stations, shipyards and ports.