Kito, Konecranes Ending Alliance, But Not Relationship
09/26/2016 - Japan’s Kito Corp. is dissolving its strategic alliance with Konecranes so that it can bid on Konecranes' hoist and crane components business, which is being divested as part of a separate deal, the companies have announced.
"While the alliance has been successful in certain areas, the parties have agreed that it is in the companies’ interest to pursue their respective strategies independently," Konecranes said in a statement.
Kito and Konecranes have had an alliance since March 2010.
The announcement comes as Konecranes looks to divest its STAHL CraneSystems division in Germany as part of its planned acquisition of the TEREX material handling and port solution business. Divesting STAHL CraneSystems is a condition of winning regulatory approval for the Terex deal.
Although the two companies are ending the alliance, they are maintaining a nonexclusive cross-distribution deal. Through that deal, Konecranes sells Kito manual products -- chain hoists and lever hoists -- under Konecranes brands, and Kito sells Konecranes wire rope hoists under its own brands.
Kito and Konecranes have had an alliance since March 2010.
The announcement comes as Konecranes looks to divest its STAHL CraneSystems division in Germany as part of its planned acquisition of the TEREX material handling and port solution business. Divesting STAHL CraneSystems is a condition of winning regulatory approval for the Terex deal.
Although the two companies are ending the alliance, they are maintaining a nonexclusive cross-distribution deal. Through that deal, Konecranes sells Kito manual products -- chain hoists and lever hoists -- under Konecranes brands, and Kito sells Konecranes wire rope hoists under its own brands.
