CARGOTEC CORPORATION, PRESS RELEASE, 21 MARCH 2011, AT 10 AM (EET)
Cargotec has completed the acquisition of terminal operating system (TOS) provider Navis from Zebra Technologies Corporation. Cargotec announced its decision to acquire Navis on 31 January 2011.
The acquisition combines Navis' flexible and scalable TOS software with Cargotec's leading cargo and load handling equipment and services. Together, Cargotec and Navis will be able to offer integrated solutions putting them in a better position to deliver turnkey operations to customers.
"Joining forces with Cargotec presents many exciting opportunities for us to better serve terminal operators all over the world. Together we can provide seamless integration between the critical elements of terminal operations. Navis will continue to operate independently under its own company name and we will maintain our well-known brand and preserve our valuable customer, technology and equipment relationships," says Bill Walsh, President of Navis, part of Cargotec.
"Not only are the companies an excellent match due to their complementary offerings, but Cargotec and Navis also share a similar mind-set; we both work closely with our customers and constantly seek new ways to make the flow of cargo more efficient. With strong track records in delivering results, I am confident that our combined know-how, solutions and committed people will start a wonderful journey," says Mikael Mäkinen, Cargotec's President and CEO.
Navis' TOS software is a global leader in marine terminals and widely used in rail yard operations and at distribution centres. Navis systems help customers coordinate and automate the movement of containers and equipment in terminal and yard environments. Customers can manage multiple operations from one geographic location.
Further information for the press:
Mikael Mäkinen, President and CEO, tel. +358 204 554243
Bill Walsh, President, Navis, tel. +1 510 267 5000
Anne Westersund, Vice President, Communications and Marketing, tel. +358 204 55 4460
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 2010 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com