Konecranes has signed an agreement to acquire a 70% stake in Mitsubishi Electric FA Industrial Products (MFK), marking its entry into Japan’s wire rope hoist and geared motor market. The acquisition will give the company access to one of the world’s largest hoist markets and strengthen its presence in the industrial lifting sector.

MFK, a long-established manufacturer with around €90 million in annual sales, operates 15 sales offices across Japan and employs nearly 400 people. Its portfolio includes wire rope hoists, geared motors, spare parts, and maintenance services. Konecranes said the acquisition will combine MFK’s strong local market presence with its global expertise in material handling solutions.

For the Indian crane industry, the development reflects the growing trend among global manufacturers to expand through strategic partnerships and acquisitions. As India’s manufacturing and infrastructure sectors continue to grow, similar collaborations are expected to drive innovation, improve service capabilities, and strengthen the availability of advanced lifting solutions in the market.