On December 7, 2016, Konecranes announced that it has signed an agreement with Columbus McKinnon Corporation (NASDAQ: CMCO) (“Columbus McKinnon”) regarding the divestment of the STAHL CraneSystems business (“STAHL Divestment”). German Bundeskartellamt merger control has on January 5, 2017, approved the STAHL Divestment. This approval was the final condition for closing.

As there are no additional contingencies on the closing of the STAHL Divestment, Konecranes and Columbus McKinnon intend to close it on or about January 31, 2017.