Why invest in Cargotec
Cargotec has refocused its strategy for higher financial performance. Cargotec will focus on sustainability and growth in profitable core businesses Hiab, Kalmar Mobile Solutions and Kalmar’s horizontal transportation business. Read more.
We are a technology leader with strong market positions in all our business areas. Several megatrends support our businesses, ensuring our future growth potential. Our strategy breakthrough objectives are sustainability and profitable growth.
Research and product development expenditure in 2022 totalled EUR 100 (102) million, representing 2.4 (3.1) percent of sales. The decrease in the R&D expenditure was mainly due to the divestment of the Navis software business. Research and development investments were focused on solutions supporting climate targets such as digitalisation, electrification, and robotisation as well as projects that aim to improve the competitiveness and cost efficiency of products.
During the year, Kalmar continued the development of its electric offering as well as the future robotic product portfolio. With the help of electrification, customers can achieve significant lifetime cost and greenhouse gas emission reductions. The development of electric equipment also offers Kalmar a significant business opportunity.
In 2022, Kalmar started field testing the Kalmar Electric Reachstacker in Norway, and the field tests of the world’s first Kalmar Heavy Electric Forklift started in Sweden. In December, Kalmar started serial production of fully electric reachstackers at its assembly unit in Poland.
Kalmar collaborates with other industry players to speed up the development of novel technologies in the area of cargo handling. In December, Kalmar announced a collaboration with Toyota Tsusho America Inc., and global strategic environmental engineering consultancy Ricardo in a project to develop fuel cell powered terminal tractors. As part of the project, a Kalmar customer in the USA will trial two Kalmar Ottawa Terminal Tractors powered by fuel cell technology at its container terminal on the US west coast.
In 2022, Hiab launched a record amount, over 40, of new products. These included significant developments to loader cranes, a range of railway cranes, new electric MOFFETT truck mounted forklifts to complete the eSeries, a new generation of LOGLIFT forestry cranes, and tail lifts. Hiab also introduced the world's first hooklift, a MULTILIFT Ultima, made mostly from fossil-free steel from SSAB. The steel offers the same properties as conventionally produced steel.
In addition, Hiab presented the comprehensive and intelligent service solution HiPerformTM which enables optimising the performance of customers’ Hiab equipment. Hiab also launched multiple solutions addressing sustainability, such as the ePTO 44, an electric and emission-free alternative to drawing power for operating the crane from the vehicle’s engine, and presented camera system HiVision 2.0 for forestry cranes and improvements to HiVision for MULTILIFT demountables. HiVision allows equipment operations from inside the truck cabin by using an external camera system to show the equipment surroundings.
During 2022, MacGregor completed its range of electric cranes with the release of a heavy-duty transfer loading crane that consumes approximately 60 percent less energy compared to a hydraulic drive system.
The SEAMLESS project, part of the EU Horizon innovation programme, received EUR 15 million in funding from the EU for developing inland transport waterway automation. Of the funding, MacGregor is to receive EUR 2.6 million. In the project, MacGregor aims to develop a so-called Dock’n’Load system which includes automated docking, mooring and departure systems, enabling autonomous vessels to operate within inland waterway ports with limited infrastructure. MacGregor also further develops Voyage and Container Optimisation Platform which would enable transparency of hinterland connections and transhipments of the container supply chain to all stakeholders. In addition, connection to various existing platforms would also be secured.
MacGregor is actively working on the carbon capture, use and storage (CCUS) segment, utilising its offshore know-how and capabilities, and is in close dialogue with other industry stakeholders.
MacGregor also continued the project towards offshore wind energy that started in 2020, where the developed prototype enables the verification of simulation models and the control of system performance and, for example, the evaluation of various situations in a safe and regulated environment. The research and development project is supported by the Norway Research Council, the Norwegian government's research policy adviser, and is implemented in cooperation between the University of Agder and MacGregor.
MacGregor was awarded the 2022 SMART4SEA Technology Award for the development of the OnWatch Scout service that monitors conditions and anticipates maintenance needs.