CARGOTEC CORPORATION, PRESS RELEASE, 1 JULY 2014 AT 10:00 AM EEST
Hiab, part of Cargotec, and New Zealand Trucks, a subsidiary of Hellaby Equipment Limited, have signed a Distribution Agreement and Asset Sale Agreement for the distribution partnership in New Zealand. The parties have agreed not to disclose the value of the transaction which occurs on 1 July 2014.
The transaction supports the implementation of Hiab's business strategy targets to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.
Carl Gustaf Göransson, Senior Vice President, Sales and Markets at Hiab, says: "By developing a long-term relationship with a recognised and committed partner Hiab is able to grow its presence and services capability in a key market and will reach Hiab customers in a professional and productive way. Partnering with New Zealand Trucks and Hellaby is part of Hiab's overall route-to-market strategy where a strong network of independent partners in key markets is one of the corner stones in growing our business successfully."
Hellaby Equipment's businesses include New Zealand Trucks and AB Equipment. It is a leading full-service distribution company, specialising in materials handling, forestry and construction new and used equipment sales as well as heavy equipment and truck servicing and forklift rentals. Hellaby's extensive sales and service network of 20 technical service centres across New Zealand will provide an excellent platform to expand Hiab's customer base.
Hiab employs approximately seven people in its current distribution operations in New Zealand. Based on the preliminary plan, all employees will transfer to New Zealand Trucks.
For more information, please contact:
Carl-Gustaf Göransson, Senior Vice President, Sales and Markets, Hiab; tel +49 172 6699763, e-mail email@example.com
Lotta Clausen, Vice President, Communications, Hiab; tel. +46 372 378138, e-mail firstname.lastname@example.org
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 under symbol CGCBV. www.cargotec.com