Konecranes to divest MHE-Demag Industrial Products business to Jebsen & Jessen Group
Konecranes announced the planned divestment of MHE-Demag’s Industrial Products (IPD) Business to Jebsen & Jessen, allowing it to sharpen its focus on lifting equipment and services in Southeast Asia as well as globally. The deal is expected to close in April, according to the company's release.
The IPD business to be acquired by Jebsen & Jessen Group is part of MHE-Demag, a member of the Konecranes Group which was previously a joint-venture between Jebsen & Jessen and Demag. Konecranes acquired Jebsen & Jessen’s 50% stake in MHE-Demag in January 2020.
The newly acquired business by Jebsen & Jessen Group will be known as ‘MHE’ and form the material handling equipment division of Jebsen & Jessen Technology, covering manufacturing, engineering, renting, trading, supplying and servicing of MHE’s complete range of industrial and material handling products such as dock levellers and door systems; mechanical car park systems; building maintenance units; boom lifts and Aerial Work Platforms (AWP); warehouse trucks and lift systems. MHE’s focus markets are Australia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Upon the finalization of the acquisition, the parties anticipate that approximately 300 highly skilled employees will join Jebsen & Jessen Group, along with related assets. The acquired business will maintain its current commercial presence, and all operations and business will proceed as usual.
Since 1972, IPD has provided systems for iconic buildings in the APAC region such as the Petronas Twin Tower, KL Tower in Malaysia, Marina Bay Sands in Singapore, BNI 46 in Indonesia, Bitexco Financial Tower in Vietnam and Okada Manila in the Philippines. It also provided the mechanism for the retractable roof of the Singapore Sports Hub – the largest free-spanning dome stadium in the world.
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 of all makes. In 2022, Group sales totaled EUR 3.4 billion. The Group has approximately 16,500 employees in around 50 countries.
MHE-Demag is part of the global lifting leader Konecranes. Established in 1972 and based in Singapore, MHE-Demag has 11 factories and more than 70 service locations throughout Southeast Asia. MHE-Demag is the name for material handling.
