# Konecranes completes acquisition of Terex MHPS (Demag)

Konecranes finalized its worldwide acquisition of Terex MHPS, which includes Demag Cranes, Hoists, Material Handling and Ports Solutions. The combined entity will share technology and target synergies of EUR 140 million per year within three years.

- Type: Acquisition
- Announced: 2017-04-12
- Where: Saldanha, South Africa, South Africa
- Status: completed
- Products: cranes, hoists, material handling equipment, port solutions
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md) (acquirer)
- [Terex MHPS GmbH](https://endata.com/companies/16427.md) (target)
- [Demag](https://endata.com/companies/16567.md) (target)
- [Demag Cranes](https://endata.com/companies/18082.md) (target)
- [ArcelorMittal Saldanha Steel Mill](https://endata.com/companies/23560.md) (customer)

## Sources

- [miningweekly.com](https://www.miningweekly.com/article/two-crane-giants-join-forces-2017-04-12), 2017-04-12: "Following the finalisation of the Konecranes’ worldwide acquisition of Terex MHPS, which in effect is Demag Cranes, Hoists, Material Handling and Ports Solutions, the two global crane brands will be sharing their considerable combined knowledge and technology."
- [miningnewszambia.com](https://www.miningnewszambia.com/two-crane-giants-join-forces/), 2017-04-12: "We are extremely proud to combine forces with Demag."
- [crown.co.za](https://www.crown.co.za/latest-news/capital-equipment-news-latest-news/4262-konecranes-and-terex-mhps-join-forces), 2017-04-13: "We are extremely proud to combine forces with Demag."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.