# Cargotec and Konecranes agree to merge into sustainable material flow leader

Cargotec and Konecranes have signed a combination agreement and merger plan under which Konecranes will be merged into Cargotec. The combined company would have illustrative annual sales of about EUR 7.0 billion.

- Type: Acquisition
- Announced: 2020-10-01
- Where: Finland
- Status: announced
- Products: cranes, material flow equipment, lifting solutions
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md) (target)
- [Cargotec](https://endata.com/companies/1832.md) (acquirer)

## Sources

- [view.news.eu.nasdaq.com](https://view.news.eu.nasdaq.com/view?id=b4ad8e57618bb1b09827f53d1279193e4&lang=en&src=cnsRedirect), 2020-10-01: "Cargotec Corporation and Konecranes Plc announce that their respective Boards of Directors have today signed a combination agreement and a merger plan to combine the two companies through a merger."

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