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Press release Hiab

Hiab is moving to a dealer based distribution in Mexico to strenghten its leading position

12/18/2014

CARGOTEC CORPORATION, PRESS RELEASE, 18  DECEMBER 2014 AT 2 PM (EET)

Hiab, part of Cargotec, and Consorcio Industrial Puebla S.A.P.I. de C.V. (CIPSA) have signed an agreement regarding a long-term distribution partnership in the Americas region. As a part of the transaction Hiab will sell its current sales company HIAB S.A de C.V. which employs 70 persons. Rafael Llamas will continue as the Managing Director of HIAB S.A. de C.V. in Mexico. The parties have agreed not to disclose the value of the transaction which will follow on 29 December 2014.
 
The transaction supports the implementation of the strategic business targets of Hiab to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.  
 
Carl Gustaf Göransson, Senior Vice President of Sales and Markets at Hiab, says: "Hiab's successful collaboration with CIPSA started back in 1976. By further developing our long-term relationship with CIPSA, which already owns 25% of Hiab's sales company, we are able to strengthen our leadership position and customer service in a key market. CIPSA is a respected partner, who has shown great commitment and high ambition to invest and take the company to the next level. We are very excited to take this step with CIPSA as our partner in Mexico. Hiab will continue to support the operations of Hiab S.A. de C.V. to enhance competitiveness and customer satisfaction."
 
Marcos Mastretta, Managing Director of CIPSA, comments: "The unified ownership structure will allow us to fully execute our vision of being the leader in the construction industry. Now, we can focus on meeting the growing expectations of our customers in terms of providing innovative products and services to ensure their success."   
 
For more information, please contact:
Carl Gustaf Göransson, Senior Vice President, Sales and Markets, Hiab; tel +49 172 6699763, e-mail carl.gustaf.goransson@hiab.com 
Lotta Clausen, Vice President, Communications, Hiab; tel. +46 70 5535138, e-mail lotta.clausen@hiab.com  
 
 
Hiab is the world's leading provider of on-road load handling equipment. Customer satisfaction is the first priority for us. Around 2,700 professionals at Hiab work to provide high-performance products and services that meet customer needs globally. Our product range includes HIAB loader cranes, JONSERED recycling and forestry cranes, LOGLIFT forestry cranes, MOFFETT truck-mounted forklifts and MULTILIFT demountables, as well as DEL, WALTCO and ZEPRO tail lifts. www.hiab.com
 
Hiab is part of Cargotec. Cargotec's sales totalled EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com