Kobelco Cranes corporate parent Kobe Steel of Japan has reported that crane sales were up 11.9% in the April to September 2008 trading period, up by 11.9% to GBP 1.303 billion.

Kobelco Cranes said that "Demand for cranes continued to be strong in all world markets."

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.