Finland’s Konecranes acquires a 70% stake in Mitsubishi Electric’s wire rope electric hoist business, officially entering the Japanese market.

Source: Vertikal.net / WorldCargo News | Date: July 7, 2026

Figure : Image from the original report – Mitsubishi Electric wire rope electric hoist.
Image source: Vertikal.net

Finnish lifting equipment giant Konecranes has announced the acquisition of a 70% controlling stake in Mitsubishi Electric FA Industrial Products (MFK), a subsidiary of Mitsubishi Electric; the financial terms of the deal were not disclosed. MFK traces its history back to 1944, originating as a branch of Mitsubishi Electric’s Nagasaki Works before becoming an independent entity in 1954. Currently headquartered in Fukuoka, Japan, and operating under Mitsubishi Electric’s Factory Automation Systems Group, the company specializes in the R&D and manufacturing of wire rope electric hoists.

For Konecranes, the strategic significance of this transaction lies in the substantial expansion of its presence in the Japanese market—a key global hub for industrial manufacturing and lifting equipment—where the company previously had a limited footprint in the wire rope electric hoist sector. Upon completion of the acquisition, MFK’s product line will complement Konecranes’ existing lifting equipment portfolio. The deal is expected to close in early 2027, subject to customary regulatory approvals.

Sources: Vertikal.net / WorldCargo News