Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Konecranes is a Finnish company in the field of production and maintenance of lifting equipment.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedStop all orders from Russia. Konecranes has now started to deliver its final crane order to Russia. The order – cranes for a Waste-to-Energy recycling site outside Moscow – was placed in 2019 by a European company and subsequently delayed by Russia’s invasion of Ukraine. Once this order has been delivered, Konecranes will have no further outstanding orders to Russia. Konecranes, a titan in the crane manufacturing industry, has initiated the liquidation of its Russian subsidiary, Konecranes Demag Rus JSC, headquartered in St. Petersburg. This decision, set to culminate by February 2, 2024, marks the end of Konecranes' operations in a country that has become increasingly isolated due to geopolitical tensions. 27.02.2025: The legal entity JSC "KONECRANES DEMAG RUS" was liquidated.