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Kobelco Cranes sales up 12pc

Kobelco Cranes corporate parent Kobe Steel of Japan has reported that crane sales were up 11.9 per cent in the April to September trading period, up 11.9 per cent to £1.303 billion.

"Demand for cranes continued to be strong in all world markets," the company said.

Kobe Steel reported that it raised its steel product prices in response to what it called the sharp cost increase of iron ore, coal, and ocean transport.

It also reported while the US and European economies have slowed, China, the Middle East and Russia were able to sustain growth.