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Press release

Cargotec's Divestment of Consolis Stake Concluded

10/31/2005

Cargotec disclosed on September 21, 2005 that it has signed an agreement to divest its 42 percent minority stake in precast concrete element manufacturer Consolis to a consortium of institutional investors represented by the European Private Equity firm Industri Kapital, certain co-investors and management.
 
The buyer's financing arrangements, to which the acquisition was subject to, have now been concluded and the transaction has been closed on October 31, 2005. The final price for Cargotec's stake was approximately EUR 82 million, and the resulting capital gain approximately EUR 15 million.