Konecranes expands its footprint News Story - 7 Jul 2011 ( #521 ) - Jubail, Saudi Arabia 1 min read Konecranes has acquired Saudi Arabian crane manufacturer Saudi Cranes & Steel Works Factory Company Ltd.Headquartered in Al Jubail Industrial City, Saudi Cranes has about 100 employees. Its core business is designing, manufacturing and selling industrial cranes. Net sales in 2010 were about EUR15 million (USD21.5 million).The acquisition's value is confidential.Saudi Cranes' customers are mainly in the oil, gas and petrochemical industries, steel plants, railways, workshops, power plants and other process industries in the Arabian Peninsula.Konecranes has an independent distributor relationship with Al Iman Factories Est in Saudi Arabia for its heavy forklifts. It is separate from Saudi Cranes and is not affected by this move.Saudi Cranes will be consolidated into Konecranes' books from June 2011.