Finnish port crane manufacturer Konecranes, which plans to merge with Terex Corporation, said it will make annual cost savings of €25 million by the end of 2017.
The company said that while merger talks with US manufacturer Terex continue, it needs to make efficiency savings. Around half of the savings will happen before the end of this year, according to a written statement.
Plant down-sizing and closures are a possibility, as well as some streamlining of its product portfolio and its supply chain.