Konecranes' acquisition of Terex's MHPS business has taken a step forward, with the deal receiving clearance from the Committee on Foreign Investment in the United States.

With the conclusion of the CFIUS process and the previously announced antitrust clearance by the U.S. Department of Justice, Konecranes has received the required regulatory approvals for the MHPS Acquisition in the United States.

Completion of the MHPS Acquisition remains subject to additional customary closing conditions.

Konecranes and Terex continue to be fully committed to the MHPS Acquisition and are working closely with the competition authorities in the remaining jurisdictions to obtain regulatory approvals, allowing completion of the MHPS Acquisition in early 2017 as planned.

In May, Konecranes agreed to buy Terex Corp's crane business for ports and factories for EUR1.1 billion (USD1.3 billion).

That deal spelled the end of a planned merger between the two, which began last year, but ended in January when Terex received a non-binding cash bid from China's Zoomlion Heavy Industries Science & Technology Co.

That deal has subsequently collapsed.