{"id":7599,"date":"2016-10-13T14:32:03","date_gmt":"2016-10-13T14:32:03","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=7599"},"modified":"2016-10-13T14:32:03","modified_gmt":"2016-10-13T14:32:03","slug":"japanese-crane-maker-kito-to-bid-for-german-cranemaker-stahl","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/japanese-crane-maker-kito-to-bid-for-german-cranemaker-stahl\/","title":{"rendered":"Japanese crane maker, Kito to bid for German cranemaker Stahl"},"content":{"rendered":"

Kito Corp<\/a>, a Japanese crane maker, is hoping to beef up its European presence by bidding for Germany-based Stahl CraneSystems<\/a>.<\/p>\n

Kito, founded in 1932, established a unit in Germany a decade ago but the company has never been able to create a big presence in the EU, the sector\u2019s biggest source of sales. With its fastest-growing market, China, slowing down in recent years, Kito is now looking to expand its European sales via an acquisition.<\/p>\n

\u201cTo be successful globally for business, the European market is the ultimate goal,\u201d Yoshio Kito, chief executive of the company that his grandfather founded, told the Financial Times<\/a>.<\/p>\n

The opportunity to buy Stahl arose after Finland\u2019s Konecranes <\/a>announced in May it would pay $1.3bn to acquire a unit of Terex of the US that makes cranes. The European Commission approved the deal in August as long as Konecranes sells Stahl, which it acquired in 2005.<\/p>\n

Konecranes and Kito then dissolved a five-year strategic alliance so the Japanese company could be a neutral bidder for Stahl.<\/p>\n

Konecranes said it was aiming to finalise the sale of Stahl by the end of the year, adding there was interest from several parties.<\/p>\n

Analysts at Danskebank estimated Stahl\u2019s enterprise value at \u20ac300m plus. Johan Eliason, analyst at Kepler Cheuvreux, said Stahl\u2019s valuation could be closer to \u20ac200m given that it will be a forced divestment, but he added the sale price could be driven up if multiple bidders are involved.<\/p>\n

Kito is a global company, with almost two-thirds of its \u20ac500m of annual revenue coming from outside Japan, and about half of its manufacturing is located overseas.<\/p>\n

But less than 5 per cent of Kito\u2019s revenue is generated in Europe, where competition is intense. \u201cIt is quite fragmented, so for foreign players it is difficult,\u201d said Mr Kito.<\/p>\n

\u00a0Masatomo Sakairi, Kito\u2019s chief strategy officer, said acquiring Stahl would also expand the Japanese company\u2019s product offerings.<\/div>\n

In the hoist market, he explained, there were metal wire or rope products, which Stahl specialises in, and electric chain models, which Kito makes.<\/p>\n

\u201cThey are used in different segments and weight classes,\u201d he added. \u201cThe idea is to have both, to be complementary to each other.\u201d<\/p>\n

Mr Sakairi said he expected \u201cquite a few\u201d private equity firms and some industry players to be interested in buying Stahl, but given their product portfolios and complementary geographies he believed Kito was an ideal match for the German cranemaker.<\/p>\n

by: Patrick McGee<\/a> in Frankfurt<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Kito Corp, a Japanese crane maker, is hoping to beef up its European presence by bidding for Germany-based Stahl CraneSystems. Kito, founded in 1932, established a unit in Germany a decade ago but the company has never been able to create a big presence in the EU, the sector\u2019s biggest source of sales. With its […]<\/p>\n","protected":false},"author":1,"featured_media":7600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,8],"tags":[818,1404],"yoast_head":"\nJapanese crane maker, Kito to bid for German cranemaker Stahl - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/japanese-crane-maker-kito-to-bid-for-german-cranemaker-stahl\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japanese crane maker, Kito to bid for German cranemaker Stahl - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Kito Corp, a Japanese crane maker, is hoping to beef up its European presence by bidding for Germany-based Stahl CraneSystems. 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