Konecranes Oyj is a Finnish

Finland

Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...

 company, headquartered in Hyvinkää

Hyvinkää

Hyvinkää is a town and municipality of Finland. It is located in Uusimaa region, approximately north of the capital Helsinki. The town was chartered in 1960. Hyvinkää belongs to the Province of Southern Finland. The population of Hyvinkää is ....

, which specialises in the manufacture and service of crane

Crane (machine)

A crane is a type of machine, generally equipped with a hoist, wire ropes or chains, and sheaves, that can be used both to lift and lower materials and to move them horizontally. It uses one or more simple machines to create mechanical advantage and thus move loads beyond the normal capability of...

s and lifting equipment as well as the service of machine tool

Machine tool

A machine tool is a machine, typically powered other than by human muscle , used to make manufactured parts in various ways that include cutting or certain other kinds of deformation...

s. The firm produces about one in ten of the world's cranes, of which around 80% are for use in factories

Factory

A factory or manufacturing plant is an industrial building where laborers manufacture goods or supervise machines processing one product into another. Most modern factories have large warehouses or warehouse-like facilities that contain heavy equipment used for assembly line production...

, the rest at port

Port

A port is a location on a coast or shore containing one or more harbors where ships can dock and transfer people or cargo to or from land....

s. The company was initially a division of KONE

KONE

Kone Oyj , founded in 1910 and headquartered in Espoo, Finland, is an international engineering and service company employing some 32,500 personnel worldwide. The firm is the fourth largest manufacturer of elevators worldwide, a leading manufacturer of escalators, and also provides maintenance...

, who began to manufacture cranes and hoists

Hoist (device)

A hoist is a device used for lifting or lowering a load by means of a drum or lift-wheel around which rope or chain wraps. It may be manually operated, electrically or pneumatically driven and may use chain, fiber or wire rope as its lifting medium. The load is attached to the hoist by means of a...

 in the 1930s, but was spun off as an independent company in 1994 when KONE underwent extensive restructuring. The firm listed on the Helsinki Stock Exchange

Helsinki Stock Exchange

The Helsinki Stock Exchange is a stock exchange located in Helsinki, Finland. Since 3 September 2003 it has been part of OMX, referred to as OMX Helsinki . Since NASDAQ's acquisition of OMX in February 2008, the official name of the Helsinki exchange has been NASDAQ OMX Helsinki.- History :The...

 two years later and has since grown to become a constituent member of the benchmark OMX Helsinki 25

OMX Helsinki 25

OMX Helsinki 25 is a stock market index for Helsinki Stock Exchange. It is a market value weighted index that consists of the 25 most-traded stock classes. The maximum weight for a single stock is limited to 10%...

 index. Konecranes is arranged into two business divisions - Equipment and Service (covering crane maintenance

Maintenance, Repair and Operations

Maintenance, repair, and operations or maintenance, repair, and overhaul involves fixing any sort of mechanical or electrical device should it become out of order or broken...

, safety

Safety

Safety is the state of being "safe" , the condition of being protected against physical, social, spiritual, financial, political, emotional, occupational, psychological, educational or other types or consequences of failure, damage, error, accidents, harm or any other event which could be...

and machine tool service).