Cargotec wins order worth over EUR 10 million for MacGregor electric cranes

CARGOTEC CORPORATION, PRESS RELEASE, 17 MAY 2011 AT 11.00 AM EEST

In April Cargotec confirmed a new order for 21 MacGregor variable frequency drive (VFD) electric cranes to be installed on seven 28,000 dwt multipurpose cargo ships. The ships will be built at Huanghai Shipbuilding in China for Ethiopian Shipping lines, and the MacGregor cranes are scheduled for delivery between August 2012 and September 2013.

Three MacGregor GLE electric cranes will be installed on each ship: five ships will be equipped with a 60-tonne and two 80-tonne cranes, and the other two ships with a 60-tonne and two 100-tonne cranes.

"We are seeing increasing interest in our electric cranes and deck machinery as more companies become aware of the economic, operational and environmental advantages they offer," says Svante Lundberg, Sales Manager for cargo cranes at Cargotec.

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Further information for press:
Svante Lundberg, Sales Manager, Cranes, Tel. +46 660 294 036

Anne Westersund, Vice President, Communications and Marketing, tel. +358 20 777 4181

Further information for investors: 
Paula Liimatta, Investor Relations Manager, tel. +358 20 777 4084

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 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com