{"id":11400,"date":"2023-03-23T01:35:17","date_gmt":"2023-03-23T01:35:17","guid":{"rendered":"https:\/\/www.findadistributor.com\/news\/?p=11400"},"modified":"2023-02-20T16:38:10","modified_gmt":"2023-02-20T16:38:10","slug":"mhe-demag-division-divested","status":"publish","type":"post","link":"https:\/\/www.findadistributor.com\/news\/mhe-demag-division-divested\/","title":{"rendered":"MHE-Demag Division Divested"},"content":{"rendered":"<p><a href=\"https:\/\/www.findadistributor.com\/item\/konecranes-inc\/\">Konecranes<\/a> is planning divestment of MHE-Demag\u2019s industrial products (IPD) business to Jebsen &amp; Jessen, allowing it to sharpen its focus on lifting equipment and services in Southeast Asia as well as globally. The deal is expected to close in April.<\/p>\n<ul>\n<li>The IPD business to be acquired by Jebsen &amp; Jessen Group is part of MHE-Demag, a member of the <a href=\"https:\/\/www.findadistributor.com\/item\/konecranes-inc\/\">Konecranes Group<\/a> which was previously a joint-venture between Jebsen &amp; Jessen and Demag. <a href=\"https:\/\/www.findadistributor.com\/item\/konecranes-inc\/\">Konecranes<\/a> acquired Jebsen &amp; Jessen\u2019s 50% stake in MHE-Demag in January 2020.<\/li>\n<\/ul>\n<p>\u201cThe divestment of our IPD business back to Jebsen &amp; Jessen will allow <a href=\"https:\/\/www.findadistributor.com\/item\/konecranes-inc\/\">Konecranes<\/a> to fully focus on growth in our core businesses in the region and leverage the earlier acquisition of full ownership in MHE-Demag. During our strategic review, Jebsen &amp; Jessen stood out as the right fit with a strong vision and strategy for the IPD business, and I am confident that the industrial product business will continue to flourish in its new home,\u201d said Marko Tulokas, SVP, industrial service and equipment, region APAC, <a href=\"https:\/\/www.findadistributor.com\/item\/konecranes-inc\/\">Konecranes<\/a>.<\/p>\n<div id=\"attachment_11401\" style=\"width: 1222px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-11401\" class=\"size-full wp-image-11401\" src=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22.png\" alt=\"\" width=\"1212\" height=\"428\" srcset=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22.png 1212w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22-768x271.png 768w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22-400x141.png 400w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22-440x155.png 440w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22-650x230.png 650w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-at-16.33.22-980x346.png 980w\" sizes=\"auto, (max-width: 1212px) 100vw, 1212px\" \/><p id=\"caption-attachment-11401\" class=\"wp-caption-text\">MHE-Demag is part of the global lifting leader Konecranes. Established in 1972 and based in Singapore, MHE-Demag has 11 factories and more than 70 service locations throughout Southeast Asia.<\/p><\/div>\n<p>The newly acquired business by Jebsen &amp; Jessen Group will be known as \u2018MHE\u2019 and form the material handling equipment division of Jebsen &amp; Jessen Technology, covering manufacturing, engineering, renting, trading, supplying and servicing of MHE\u2019s complete range of industrial and material handling products such as dock levellers and door systems; mechanical car park systems; building maintenance units; boom lifts and Aerial Work Platforms (AWP); warehouse trucks and lift systems.<\/p>\n<ul>\n<li>MHE\u2019s focus markets are Australia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.<\/li>\n<\/ul>\n<p>Upon the finalization of the acquisition, the parties anticipate that approximately 300 highly skilled employees will join Jebsen &amp; Jessen Group, along with related assets.<\/p>\n<p>The acquired business will maintain its current commercial presence, and all operations and business will proceed as usual.<\/p>\n<p>\u201cWe are excited to welcome the 300-people-strong MHE-Demag Industrial Products (IPD) team to the Jebsen &amp; Jessen Group. The business is already the clear market leader in some segments, and our ambition is to attain market leadership across the portfolio. We are committed to investing in people and the business to achieve our growth ambitions,\u201d said Per Magnusson, Group CEO, Jebsen &amp; Jessen Group.<\/p>\n<p>\u201cThe acquisition aligns well with our Advance &amp; Build strategy and builds upon our distinctive heritage as a trusted provider of quality industrial products and value-added solutions.\u201d<\/p>\n<p>Since 1972, IPD has provided systems for iconic buildings in the APAC region such as the Petronas Twin Tower, KL Tower in Malaysia, Marina Bay Sands in Singapore, BNI 46 in Indonesia, Bitexco Financial Tower in Vietnam and Okada Manila in the Philippines.<\/p>\n<p>It also provided the mechanism for the retractable roof of the Singapore Sports Hub \u2013 the largest free-spanning dome stadium in the world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Konecranes is planning divestment of MHE-Demag\u2019s industrial products (IPD) business to Jebsen &amp; Jessen, allowing it to sharpen its focus on lifting equipment and services in Southeast Asia as well as globally. The deal is expected to close in April. The IPD business to be acquired by Jebsen &amp; Jessen Group is part of MHE-Demag,&#8230; <a href=\"https:\/\/www.findadistributor.com\/news\/mhe-demag-division-divested\/\" class=\"excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":11401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,10],"tags":[554,8673,977,377,8676,8674,8672,8677,8675],"class_list":["post-11400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage-featured","category-news","tag-engineering","tag-jebsen-jessen","tag-konecranes","tag-manufacturing","tag-marina-bay-sands","tag-marko-tulokas","tag-mhe-demag","tag-okada-manila","tag-per-magnusson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MHE-Demag Division Divested - Find A Distributor Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.findadistributor.com\/news\/mhe-demag-division-divested\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MHE-Demag Division Divested - Find A Distributor Blog\" \/>\n<meta property=\"og:description\" content=\"Konecranes is planning divestment of MHE-Demag\u2019s industrial products (IPD) business to Jebsen &amp; Jessen, allowing it to sharpen its focus on lifting equipment and services in Southeast Asia as well as globally. 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