<article><a href="https://www.dealstreetasia.com/?s=Kito%20Corporation">Kito Corporation</a>, a Japanese manufacturer of hoists, cranes, and chains, announced its acquisition of <a href="https://www.dealstreetasia.com/?s=Erikkila">ERIKKILA Oy</a>, a manufacturer of ergonomic light cranes headquartered in Finland.</article>

<a href="https://www.dealstreetasia.com/?s=Kito%20Corporation">Kito Corporation</a>, a Japanese manufacturer of hoists, cranes, and chains, announced its acquisition of <a href="https://www.dealstreetasia.com/?s=Erikkila">ERIKKILA Oy</a>, a manufacturer of ergonomic light cranes headquartered in Finland.
In a disclosure to the Tokyo Stock Exchange on Thursday, Kito said, it has acquired all the shares of the European crane manufacturer through its wholly owned subsidiary <a href="https://www.dealstreetasia.com/?s=Kito%20Europe">Kito Europe GmbH</a>.
Kito said the acquisition enhances its European operations and strengthens business position through ERIKKILA&#8217;s European sales network. It also expands Kito&#8217;s line of cranes and related products, the company said.
Financial details of the acquisition were not disclosed.
Established din 1912, ERRIKILA has been producing and selling light cranes in the competitive European market for over 40 years. The main office and factory operate in Kirkkonummi in Masala, near Helsinki in Finland.
In addition, the company has production in Tallinn, Estonia, through a subsidiary OÜ Eesti Kraanavabrik, which was founded in 1991.
The company posted total sales of €11.7 million ($14.5 million) and total assets of €5.9 million for the year ended March 31, 2017.
With comprehensive ERIKKILA light crane system of steel and aluminum, Kito is able to serve growing demands among automotive and other industries.
&#8220;In the future, Kito will expand its light crane operations outside Europe, at first stage in Japan and the US,&#8221; Kito disclosed.
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Japanese manufacturer Kito Corporation has acquired ERIKKILA Oy, a producer of ergonomic light cranes headquartered in Finland.

Japanese crane maker Kito acquires Finnish firm ERIKKILA

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Japanese crane maker Kito acquires Finnish firm ERIKKILA

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