Mitsubishi Electric will sell a majority stake in its subsidiary. As a result of the deal, Konecranes will be a 70% major shareholder, with Mitsubishi Electric holding a 30% stake. The subsidiary in Fukuoka has been developing and manufacturing hoists and geared motors, mainly for the Japanese market. The transaction is supposed to close this fiscal year, contingent upon regulatory approvals.
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Mitsubishi Electric and Konecranes Strengthen Partnership Through Hoist Business Deal
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