Konecranes is set to acquire a 70 per cent stake in Mitsubishi Electric FA Industrial Products (MFK), strengthening its position in Japan’s wire rope hoist, geared motor and service markets.

The acquisition, from Mitsubishi Electric Corporation, marks a strategic move to expand Konecranes’ global footprint and enter one of the world’s largest hoist markets at scale.

MFK, a profitable market leader in Japan, has operated since 1944 and offers hoists, parts, maintenance services and geared motors through a nationwide distributor network.

The company generates around €90 million in annual sales, primarily from Japan and wider Asia, and employs approximately 400 people across 15 sales offices.

Konecranes said the deal will create synergies by combining MFK’s local expertise with its global capabilities, supporting further growth in the region. The acquisition value was not disclosed.

“I am very pleased with this planned acquisition. MFK’s technologies, products and personnel strengthen our global footprint and give us a more significant presence in the attractive Japanese market under a world-leading and well-known brand. MFK will benefit from being part of a global leader, and for Konecranes MFK is a very good strategic fit and brings clear synergies. This important acquisition continues Konecranes’ long-term growth focus where acquisitions play a significant role,” says Konecranes’ President and CEO Marko Tulokas. -OGN/TradeArabia News Service