Cargotec Corporation was formed in June 2005 when Kone Corporation demerged into two companies to be listed, Cargotec and KONE. However, the history of Cargotec did not start that year but over 100 years ago when Kalmar, one of Cargotec’s three business areas, started its operations.
This section introduces the major events of Cargotec from 2005 onwards. You can find more information about earlier events in story sections of each business area.
In February 2018, MacGregor entered into an agreement to acquire by acquiring marine and offshore business from TTS Group. The acquisition will strengthen MacGregor's marine and offshore activities in key areas and add further service growth potential through the increased installed base. The transaction is expected to close during the third quarter of 2019.
Cargotec launched the Offering for eco-efficiency concept in March 2017. The offering consists of solutions that can enhance the customer ́s sustainability either with cleaner technologies, software solutions or services supporting circular economy. Each solution within the eco-efficiency offering needs to pass clear criteria, and the whole offering was audited externally during 2017.
In December 2017, MacGregor signed an agreement to acquire Rapp Marine Group (RMG) to strengthen its offering for the fishery and research vessel segment. The acquisition was completed in February 2018.
Cargotec established the Cargotec IoT (Internet of things) Cloud platform as a solid foundation for our digital solutions. The first products to utilise the platform have been launched. The number of products connected to analytics platforms is strongly increasing.
On 2 March 2016 a leading maritime software company INTERSCHALT, was acquired. The acquisition strengthened Cargotec's and its business areas' Kalmar's and MacGregor's software strategy and complemented Cargotec's strategic aim to be the leader in intelligent cargo handling. The acquisition made possible for Cargotec to gain more competence in technologically advanced software and service solutions and attain a global footprint with branch offices, service stations and partner representations.
In June, Kalmar and Navis introduced Kalmar OneTerminal, an integrated terminal automation solution. Also in the same month, Kalmar presented the next generation automatic stacking crane (ASC) system and launched the K-Motion technology – an innovative drive train system – for reachstackers.
Towards the end of the year, Cargotec updated its strategy with the aim of transforming Cargotec into a market leader in intelligent cargo handling by building on services, digitalisation and people leadership. Cargotec also updated its financial targets in order for them to reflect the growth strategy and expected high return on the planned investments.
MacGregor completed the acquisition of the mooring and loading systems unit, also known by the Pusnes brand name, from Aker Solutions on 30 January. The unit provides mooring equipment, loading and offload systems as well as wide range of deck machinery for the global offshore and shipping markets, and the acquisition was highly complementary with Macgregor offering of that time.
Cargotec opened a new Technology and Competence Centre in Tampere on 21 May 2013. In the centre, Kalmar focuses on the development of energy-efficient, safe and intelligent machinery and automation solutions. The Technology and Competence Centre is one of the most energy-efficient office buildings in Finland.
A joint venture of Sinotruk was established in November 2013 between Hiab and China National Heavy Truck Group Co., Ltd. The joint venture was expected to become significant player in the loader crane complete vehicle and truck crane business in the future, particularly in China.
On 31 October 2013, Cargotec announced its MacGregor business had completed the acquisition of privately owned Hatlapa, a leading provider of merchant ships and offshore deck equipment. The acquisition, valued to EUR 160 million, further strengthened MacGregor’s line of premium winch products as well as expanded the offering to include steering gear, compressors, and deck handling equipment.
Cargotec’s Board of Directors in its meeting on 27 January 2013 appointed Mika Vehviläinen as Cargotec’s new President and CEO. At the time of the appointment, Mika Vehviläinen was CEO of Finnair Plc., and previously he had held senior leadership positions at Nokia Siemens Networks and Nokia.
In November, Hiab Moffett E-Generation, the world’s first electric truck-mounted forklift, was given the John Connell Technology Award by the Noise Abatement Society in the United Kingdom as a pioneering, innovative and practical solution.
In September, Cargotec was elected the Cargo Handling Equipment Supplier of the Year at the MALA Awards, a prominent maritime and logistics industry event in India.
To strengthen presence in China, on 18 May 2012 Cargotec established a joint venture Rainbow-Cargotec Industries Co Ltd (RCI) with Jiangsu Rainbow Heavy Industries Co. Ltd (RHI). Cargotec’s ownership in the joint venture is 49 percent, and the equity investment was worth EUR 30 million. In addition to grasping growth opportunities in the Chinese and global markets, RCI’s purpose is to provide leading heavy crane solutions globally. During the year Cargotec and RHI focused on starting the operations of RCI.
Kalmar started Port 2060 initiative. On its first year, the blog sparked discussions within the terminal operations sector about the challenges and solutions that will be relevant to containerisation as it approaches its centenary.
Cargotec ’s commitment to sustainable operations was further strengthened by re-evaluating the Pro Future™ criteria. Pro Future™ is the company’s label for products fulfilling a set of strict environmental criteria, taking account of environmental impacts on a larger scale than previously. A new product, Hiab Multilift XR18S – Pro Future™, a hooklift several hundred kilogrammes lighter than comparable products, was introduced. When used on a three-axle truck, a 30 percent reduction in both emissions and fuel consumption can be reached on an average.
Cargotec’s efforts in port automation began to bear fruit as the company won two major port automation contracts during the year. At the beginning of October, DP World chose Cargotec as its partner for the London Gateway port automation project. Another large port automation order from TraPac, Inc. in Los Angeles, USA, was also announced.
Cargotec announced the acquisition of terminal operating system (TOS) provider Navis from Zebra Technologies Corporation on 31 January 2011. By acquiring Navis, Cargotec could strengthen the ability to provide total solutions for its terminal customers, as Navis software is the leading system globally in marine terminals, and used widely in rail yard operations and distribution centres.
Cargotec set up a new business location in Singapore, housing the company’s local operations.
One of the most important projects of 2009 was starting the construction on a new plant in Stargard Szczeciński, Poland. Completed in 2010, the production plant is Cargotec’s key European facility and the most modern and energy efficient assembly unit in the entire organisation. The unit is part of Cargotec’s global supply network and located close to customers and the growing European markets.
Cargotec initiated a brand reinvention process, which introduced a new corporate symbol: the elephant. The elephant stands for strength, long life, reliability, trust and lifting. It is carried by both the Cargotec and business area brands.
In January 2008, Cargotec launched a global change programme called “On the Move” with three targets: to increase internal efficiency, enhance customer focus and facilitate growth. The programme supported Cargotec in achieving the strategic targets for the period 2007-2011.
2007 was a record year for Cargotec in a form of acquisitions, as as much as 14 acquisitions were completed. As a result of the acquisitions, the number of employees grew by close to 3,000 persons.
February 8, Mikael Mäkinen was appointed as a new President and CEO for Cargotec Corporation.
On June 1, Cargotec Corporation was formed when KONE Corporation demerged into two separate companies. The same day, Cargotec was listed on the Helsinki Stock Exchange. Carl-Gustaf Bergström started as the first CEO of Cargotec.