Konecranes starts statutory negotiations in Standard Lifting and Service in Finland

Konecranes starts statutory negotiations in Standard Lifting and Service in
Finland 

With the continuing weak demand for lifting equipment and maintenance services,
Konecranes is stepping up adjustments to its production and service capacity.
Konecranes Standard Lifting Oy and Konecranes Service Oy will start statutory
negotiations regarding possible temporary and permanent layoffs. It is
estimated that the permanent personnel reductions will affect 50 employees at
most. 

The statutory negotiations now initiated target all personnel of Konecranes
Standard Lifting Oy and Konecranes Service Oy in Finland. In addition to
possible temporary layoffs, Konecranes Standard Lifting Oy is negotiating the
possible permanent layoff of at most 40 employees and Konecranes Service Oy the
possible permanent layoff of at most ten employees. Konecranes Standard Lifting
Oy, supplying lifting equipment for industrial purposes, employs about 460
people in Finland and Konecranes Service Oy, offering service solutions for
cranes, port equipment and machine tools, about 590 people in Finland. 

The aim of the measures is to adjust the companies' cost structure and capacity
to correspond with the current, weakened market situation and to secure future
competitiveness. 

Konecranes has already adjusted its capacity through various arrangements, e.g.
by reducing the use of hired personnel and temporary employment. Additionally,
the company has shifted subcontracting back to in-house production. 

Additional information:
Press
Mikael Wegmüller, Director, Marketing and Communications, Konecranes Plc
Email: mikael.wegmuller@konecranes.com, or tel. +358 20 427 2008

Investors and analysts:
Sanna Päiväniemi, Investor Relations Manager, Konecranes Plc
Email: sanna.paivaniemi@konecranes.com, or tel. +358 20 427 2050

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 and machine tools of all
makes. In 2008, Group sales totaled EUR 2,103 million. The Group has 9,600
employees, at 485 locations in 43 countries. Konecranes is listed on the NASDAQ
OMX Helsinki Ltd (symbol: KCR1V). 

www.konecranes.com