Finland-based lifting services company Konecranes has announced the purchase of 100 percent of shares in Moroccan port crane service and modernization company Techniplus S.A.R.L. This is the company's first acquisition in North Africa. The value of the deal has not been disclosed.
"Morocco is a country with a good business environment and a rapidly developing economy, and Techniplus is well known and respected in Morocco for its technical capabilities. Through the acquisition, Konecranes will also be able to offer the whole Konecranes product range to the Moroccan market," reads the company's statement.
Before the acquisition, Techniplus was the distributor of Konecrane's lift-trucks and port equipment in Morocco. Techniplus, which has 120 employees and in 2009 posted €7 million net sales.