In February of that year, Kone made a strategic decision to refocus its efforts on the elevator business, leading to the divestiture of the crane division into an independent entity.

[11] During Gustavson's time as CEO of KCI Konecranes, the company saw success with profitable operations and increased order backlog.

[citation needed] The Asian economic crisis in the late 1990s temporarily affected sales, but in the 2000s, KCI Konecranes continued to grow by establishing new factories and making acquisitions to expand into new markets, becoming one of Finland's most international companies.

[14] The product range expanded in 2004 to include lift trucks and reach stackers with the acquisition of the Swedish SMV Liftrucks.

[15] Further acquisitions followed in 2005, including R.STAHL AG's material handling division and MMH Holdings, Inc.[16][17] A merger plan between Partek and KCI Konecranes was announced in 2002.

However, the merger fell apart on the same day as Kone unexpectedly announced the purchase of the state's 30.2% ownership in Partek, effectively preventing the union.

[21] Konecranes continued its focus on diversification, expanding its product portfolio to include a broader range of lifting equipment, material handling, and industrial services.

This strategy allowed the company to tap into new markets and industries beyond its traditional stronghold in port and container handling equipment.

[22] By 2008, the acquisition of key competitors and strategic partnerships enabled the company to establish a more robust presence in North America, Asia, and other emerging markets.

[22] In the early 2010s, Konecranes invested heavily in research and development to introduce technologies such as automation, remote monitoring, and predictive maintenance, into its product offerings.

Instead of the merger Terex agreed to sell the Material Handling and Port Solutions division to Konecranes for 1.3 billion euros.

[42] In April 2024, it was announced that Konecranes had acquired the German crane and service supplier, Kocks Kranbau for an undisclosed amount.