Finnish lifting equipment and crane manufacturer Konecranes, has signed an agreement to acquire a majority stake in Japan’s Mitsubishi Electric FA (Factory Automation) Industrial Products.

The transaction is subject to regulatory approvals and closing conditions and is expected to be completed in early 2027.

Under the agreement, Konecranes will acquire a 70% stake in Mitsubishi Electric FA Industrial Products (“MFK”), which is a subsidiary of Mitsubishi Electric Corporation. The value of the deal has not been disclosed.

The deal enables Konecranes to enter the Japanese wire rope hoist, geared motor and service markets and is part of its growth strategy.

Konecranes says MFK is a profitable market leader within wire rope hoists in Japan and has a substantial distributor network across the country, having started business in 1944 developing hoists and geared motors.

Konecranes adds MFK has been growing in recent years, generating approximately EUR90 million (USD102.6 million) in annual sales and now boasts offices in nine regions around Japan, and employing 400 people.

MFK’s product portfolio include the RH-CR Series SCARA Robots used for assembly, handling and packaging, the MR-J4 Servo Motion Control for precision packaging and handling systems and, the RV-CR Series Vertical Industrial Robots for easy integration into automation cells and manufacturing lines.

Konecranes’ president and CEO Marko Tulokas says of the deal: “I am very pleased with this planned acquisition”. 

“MFK’s technologies, products and personnel strengthen our global footprint and give us a more significant presence in the attractive Japanese market under a world-leading and well-known brand,” he adds.

“MFK will benefit from being part of a global leader, and for Konecranes MFK is a very good strategic fit and brings clear synergies. This important acquisition continues Konecranes’ long-term growth focus where acquisitions play a significant role.”

MFKs product range includes the RH-CR Series SCARA Robots used for assembly, handling and packaging; the MR-J4 Servo Motion Control for precision packaging and handling systems and; the RV-CR Series Vertical Industrial Robots for easy integration into automation cells and manufacturing lines.