KCI Konecranes has finalised the establishment of its Japanese joint venture with Meidensha Corporation and begun marketing the new MXT line of hoists.
Konecranes entered into an agreement last November with Meidensha to establish Meiden Hoist System Company Ltd (MHS). Meidensha has a controlling 51% stake at the outsdet but Konecranes has an option to increase its holding from 49% to 65% before 31 March 2008.
The strategy of MHS is to produce a Japanese version of Konecranes’ CXT hoist at its headquartgers in Nagoya.. MHS has now received a manufacturing license and approval from the safety authorities in Japan. The standard CXT hoist has been adapted to meet Japanese standards and technical specifications. The new hoists are being marketed in Japan under the brand name MXT.
“This is indeed an important milestone for KCI Konecranes in Japan,” said Arto Juosila, KCI Konecranes’ group vice president for the Asia-Pacific region. “Japan is one of the world’s largest markets for electric wire rope hoists and represents a substantial potential for KCI Konecranes. Although the Japanese market is currently at a low level, we are surprised to see how strong it still is and happy about the first market responses to the MXT hoist.”.
