Engineering companies Konecranes and Cargotec merge into one company, the companies state in their press releases.

The boards of the companies have today signed a merger agreement to merge the companies through a merger.

The proposed merger will be implemented through a merger in which Konecranes will merge with Cargotec.

Following the transaction, Konecranes shareholders would own approximately 50 percent and Cargotec shareholders approximately 50 percent of the future company's shares.

The Boards of Directors of Cargotec and Konecranes unanimously recommend the merger to the shareholders of the companies.