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PRESS RELEASE
April the 19th, 2012

Konecranes to deliver cranes to shipyard in Azerbaijan

In March 2012, Konecranes received an order for cranes for a shipyard being built in Baku, Azerbaijan. The order was placed by Baku Shipyard, a joint venture company formed by State Oil Company of Azerbaijan Republic (SOCAR), Keppel Offshore and Marine (KOM), and Azerbaijan Investment Company (AIC). The order comprises one Goliath gantry crane and two portal jib cranes. The cranes will be delivered to the Baku shipyard by 2013.

Baku Shipyard will develop a yard that is expected to be ready by the end of 2013. The shipyard will carry out general marine engineering, shipbuilding and repair of vessels for clients operating in the Caspian Sea.

“Baku Shipyard will carry out high-quality shipbuilding projects and ship repair, which meet the operational requirements of our clients. Baku Shipyard will be equipped with the most advanced technologies and Konecranes, one of the leading companies in the lifting business, is an excellent partner that is committed to providing us with the best equipment and services that will ensure high efficiency and productivity at our yard,” says David Loh, General Manager of Baku Shipyard LLC.

“We aim to be an active player, both in sales of new equipment and in service, in the Caspian Sea’s growing crane market,” says Jussi Rautiainen, General Manager, Shipyard Cranes. “The delivery of the recently ordered cranes will be an important milestone in this aim. It also continues the existing relationships we have with both SOCAR and Keppel Offshore and Marine.”

The Goliath gantry crane has a lifting capacity of 300 tons and the portal jib cranes 25 tons each at 40 meters outreach. All cranes are equipped with the latest and most advanced technology developed by Konecranes.

About Konecranes:
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions as well as services for lifting equipment and machine tools of all makes. In 2011, Group sales totaled EUR 1,896 million. The Group has 11,700 employees, at 609 locations in 47 countries. Konecranes is listed on NASDAQ OMX Helsinki (symbol: KCR1V).

For further information:
Press:
Jussi Rautiainen, General Manager, Shipyard cranes
E-mail: jussi.rautiainen@konecranes.com or phone +358 20 427 2616Investors and Analysts:
Miikka Kinnunen, Director, Investor Relations
E-mail: miikka.kinnunen@konecranes.com or phone +358 20 427 2050

www.konecranes.com


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