In an announcement, Fives Machining Systems Inc. said it will combine its global aftermarket services with those of Konecranes to form a new and larger division. The division, it said, will be able to offer more services to a broader range of industries and systems. 

"This acquisition demonstrates Fives' commitment to the machine tool and manufacturing industries. Our mission is to be the primary service and solutions provider for productivity enhancements and service support to aerospace and industrial manufacturers," said Steve Thiry, president and chief executive of Fives Machining Systems Inc. 

"For our customers, this means a broader range of machines that can serviced by some of the most talented machine tool specialists, control engineers, alignment/calibration experts in the industry."