December, 28. 2005
KCI Konecranes reduces ownership stake in Ukrainian crane company
KCI Konecranes has today signed an agreement to sell a 46 percent interest in Zaporozhcrane Holding (Zaporozhye Kran Holding) to Finnfund, the Finnish Fund for Industrial Cooperation Ltd. The agreement will have no effect on KCI Konecranes financial results for the current year.
On 5 October 2005, KCI Konecranes announced the acquisition of a majority shareholding in the Ukrainian crane company Zaporozhcrane through a holding company with the intention of reducing its ownership stake below 50 %.
After this transaction KCI Konecranes holds 49% of the shares in Zaporozhcrane Holding and approximately 40 % of the shares in the crane company Zaporozhcrane. Other shareholders of Zaparozhcrane and Zaporozhcrane Holding consist of the company's operative management.
Finnfund is a Finnish development finance company that provides long-term risk capital for profitable projects in developing countries and transition economies outside the EU. We finance private projects
that involve a Finnish interest. www.finnfund.fi.
About KCI Konecranes
KCI Konecranes is a world leading crane technology and service company. Maintenance services are provided for cranes of every make. The product range includes light crane systems, heavy-duty cranes for process industries and shipyards, special harbour cranes for bulk materials and containers as well as reach stackers and lift trucks. In 2004, Group sales totalled EUR 728 million. The Group has 5,000 employees in 35 countries. KCI Konecranes is listed on the Helsinki Stock Exchange (symbol: KCI1V).
For further information:
KCI Konecranes Plc
Teuvo Rintamäki, Chief Financial Officer, phone: +358-20 427 2040
Antti Vanhatalo, Group Vice President, Business Development,
+358-20 427 2002
All our news releases and financial reports are also published at our website for investors:www.konecranes.com/investor
KCI KONECRANES PLC
+358-20 427 2016
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