Business Update
Konecranes says its acquisition of Whiting Corporation’s industrial, nuclear crane operations has been going smoothly.
f Whiting Corporation’s customers are as diverse as steel mills, automotive plants, fossil fuel plants, metal service centres, and hydroelectric and nuclear power plants.
I
n what it sees as a very complementary fit for its company and supportive of its desire to expand its presence in North America, Konecranes
acquired the industrial and nuclear crane and crane services operations of Whiting Corporation in the spring.
Speaking this summer about the acquisition, Bernie D’Ambrosi, senior vice president Americas of Konecranes’ Industrial Service and Equipment business, said: “Konecranes is always looking for opportunities to grow through the acquisition of complementary businesses.” He also noted that Konecranes’ growth through smaller ‘bolt-on’ acquisitions is something it recently reiterated as part of the refreshed business strategy that the company announced in May as part of its goal to become the world leader in material handling solutions.
D’Ambrosi added that the North American
market is a strategically important market to Konecranes, both for services and equipment. “This acquisition will allow us to grow our
market share in the North American market by serving new customers and getting into certain territories that we are not currently serving,” he said.
While Whiting’s primary locations are in Monee, IL, its seven operations, which service such diverse customers as steel mills, automotive plants, fossil fuel plants, metal service centres and hydroelectric and nuclear plants, stretch throughout North America. D’Ambrosi said that the integration of Whiting, and its 130 employees, into Konecranes has been going very smoothly, aided by the similarities of the two companies’ operations: “This excellent
fit allows us to incorporate Whiting’s process and systems into ours, therefore enabling us to offer customers who previously appreciated Whiting access to a wider range of services and opportunities given Konecranes’ global reach and leading portfolio of services and solutions.” At the same time, given Whiting’s strong foothold and respected history in that area, D’Ambrosi said that this acquisition provides Konecranes with increased opportunities in the industrial and nuclear service segments. Prior to the acquisition, Whiting Corporation had been serving that market for more than 100 years. Speaking at the time of the acquisition,
D'Ambrosi, said: “We welcome this talented group of Whiting colleagues to Konecranes and look forward to driving together our new and exciting growth opportunities.” ^
16 | Fall 2023 |
www.ochmagazine.com
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