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Press release Hiab MacGregor Kalmar

Cargotec appoints Martin M. Lin as Chairman of China, Cargotec Industries (China) Co., Ltd

6/24/2014

CARGOTEC CORPORATION, PRESS RELEASE, 24 JUNE 2014 AT 2.00 PM (EEST) 

Martin M. Lin (b. 1953) has been appointed Chairman of China at Cargotec Industries (China) Co., Ltd as of 1 August 2014. He will report to Cargotec's President and CEO Mika Vehviläinen and will be located in Shanghai. His main task is to build relationships with the Chinese government and other stakeholders in China supporting the growing business.

Martin M. Lin, M.Sc. (Eng.) and MBA, comes most recently from Textron China Inc., a multi-industry company that leverages its global network of aircraft, defence, industrial and finance businesses, where he has held a position as President from 2008. Before that he has held several strategic senior positions at Rockwell Collins for 24 years, establishing and developing the operations both in the United States as well as in China.

"As the importance of Asia for Cargotec increases, both in growth and development of the production and logistics, a strong presence and understanding of the plans and needs of different stakeholder groups, e.g. decision makers, are extremely important. Martin's experiences of cooperation with governmental agencies in multi-industrial businesses is valuable for Cargotec and its joint ventures in China and I warmly welcome him to the Cargotec family," says Mika Vehviläinen.

"My background, born and studied in Taiwan, 16 years in United States and working in multinational companies in China for over 20 years, has strengthened my capabilities to learn and understand the changing business environment in China. I am happy to join Cargotec, a company which is a market leader in all its business areas," states Martin M. Lin.

The Asia-Pacific region accounted for 28 percent of Cargotec's sales in the first quarter of 2014 and China is among the top 5 countries in terms of sales. The history of Cargotec in the region started in 1973 when Hiab entered Japan. The latest expansion of the business, a joint venture with Sinotruk, took place in early 2014.

Further information for the press:
Mika Vehviläinen, President and CEO, tel. +358 20 777 4100
Anne Westersund, Senior Vice President Communications and Public Affairs, tel + 358 20 777 4460

Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately 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