Finnish Company Acquires 100% Ownership of MMH Holdings

After acquiring a majority ownership position in May, the U.S. subsidiary of KCI Konecranes Inc. (Finland), has acquired 100% of MMH Holdings, Inc., which owns Morris Materials Handling (Springfield, Ohio).

With U.S. headquarters in Springfield, Ohio, Finland-based KCI Konecranes Group's product range includes light crane systems, heavy-duty cranes for process industries and shipyards, special harbor cranes for bulk materials and containers as well as reach stackers and lift trucks. In 2005, Group sales totaled EUR 971 million. The Group has over 6,000 employees in 38 countries.

Over 120 years old, Morris Material Handling (Oak Creek, Wis.) manufactures and services overhead cranes. Annual sales for Morris Material Handling, Inc. were approximately $170 million in its most recent fiscal year. The company has approximately 980 employees. Through its subsidiaries MMH also has local operations in Canada, Mexico and Chile.

“In terms of personnel, we’ve acquired a great deal of experience with this company, and we are very happy to have the members of this highly educated and experienced organization joining Konecranes’ worldwide family of companies,” said Tom Sothard, president of KCI Konecranes’ Region Americas. “We plan to capitalize on the best practices of each company to enhance our customer service and to offer the most proven and best technologies to our respective customers,” he continued.

Source: KCI Konecranes Group.

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