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Press Release Cargotec

Cargotec wins crane upgrade contracts from Malaysia

9/30/2010

CARGOTEC CORPORATION, PRESS RELEASE, 30 SEPTEMBER 2010 AT 10.00 EEST

Cargotec has secured two contracts to refurbish and upgrade ship-to-shore (STS) cranes from Northport (Malaysia) Bhd operating at Port Klang, as part of plans to boost efficiency and capacity at its Container Terminal Two.

Eight cranes, capable of 48m outreach, will be completely refurbished with digital electrical system technology. Two further post-Panamax cranes will be raised in height to accommodate larger container ships. The 20-month retrofit project will see cranes redelivered progressively, with the last operational by first quarter 2012.

"The Asia Pacific region has experienced quantum growth in port terminal development in the last 15 years. There is a demand for a strong and competent technical service provider to assist these terminals in the upgrade and retrofit of their current equipment fleet," says Collin Swee, Director, Cargotec Terminal Business Malaysia.

Further information for the press:

Collin Swee, Director, Cargotec Terminal Business Malaysia, collin.swee@cargotec.com
Anne Westersund, Vice President Communications and Marketing, tel. +358 20 455 4460

Further information for investors:

Paula Liimatta, Investor Relations Manager, tel. +358 20 455 4634

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2009 and it employs approximately 9,500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com