Cargotec and the European Investment Bank (EIB) agree on EUR 55 million R&D loan facility
30/05/2012
CARGOTEC CORPORATION, PRESS RELEASE, 30 MAY 2012 AT 11 A.M. (EEST)
Cargotec Corporation and the European Investment Bank (EIB) have signed an EUR 55 million ten-year research and development loan agreement to finance research and development (R&D) activities for the development of cargo handling solutions and related technologies. The loan was drawn today 30 May 2012.
The loan facility will foster Cargotec's R&D towards the development of new technologies and equipment for industrial and on-road load handling applications, for ports and container handling as well as for marine cargo and offshore load handling. Included in the financing are also equipment and test facilities for Cargotec's new Technology and Competence Centre in Tampere, Finland.
For further information please contact:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104
Pekka Reijonen, Vice President, Treasury, tel. +358 20 777 4148
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 3.1 billion in 2011 and it employs approximately 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com