Konecranes CEO to relocate to Singapore for a year

Konecranes president & CEO Pekka Lundmark will relocate to Singapore in August for approximately one year to support the development of the industrial cranes company’s operations in emerging markets.

“A continuously growing share of the growth in world’s industrial production and logistics investments takes place in emerging markets in general, and in Asia in particular. A strong senior management attention to the requirements presented by these customers is vital to success in our business. My main objective with the relocation is to build a personal contact network amongst customers and other decisionmakers in Asia, and better understand their thinking, plans and needs," Mr Lundmark said.

Mr Lundmark’s temporary relocation is not expected to lead to any changes in Group’s operational structure, including the group headquarter functions in Hyvink??, Finland, or Asia-Pacific headquarter functions in Shanghai, China, Kronescranes said in a statement.

The Asia-Pacific region accounted for 21% of Konecranes’ net sales in 2011 and its relative share has tripled during the latest ten years. The Finnish company employs approximately 3,000 persons in the region, which is about 26% of the Group’s total personnel. In China and India, Konecranes operates altogether seven plants, including joint ventures, manufacturing hoists, industrial cranes, lift trucks, and port cranes.

Emerging markets in total generate about one-third of Konecranes’ net sales and as much as a half of Business Area Equipment’s revenues.