Cargotec Expands Distribution and Service Network in Belgium
Kalmar, the business area providing container handling solutions within Cargotec, has made an agreement to acquire its Belgian distributor Catracom. Catracom has been distributing Kalmar equipment since 1985. Catracom has a strong service set-up in the port of Antwerp as well as equipment rental business at ports and heavy industry customers in Belgium. The agreement signed between Cargotec and Catracom is subject to competition authority approval. The parties have agreed not to disclose the transaction value.
Catracom employs approximately 100 people and had net sales of approximately EUR 70 million in 2005. Catracom's owner and Managing Director Ludwig Callens will continue with the business.
"Catracom has been a strong partner for Kalmar in Belgium for many years. This acquisition supports our strategy of being close to our customers at major ports and container terminals around the world. It significantly strengthens our existing service offering and network in the port of Antwerp," states Kalmar's President Christer Granskog.
The port of Antwerp handled 6.5 million TEU of containers in 2005.
SVP, Investor Relations and Communications
Senior Executive Vice President and CFO
For further information, please contact:
Christer Granskog, President, Kalmar, tel. +358 (0)204 55 4776
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 (0)204 55 4281
Cargotec Corporation is the world's leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. Cargotec's operations are divided into three strong, global business areas: Hiab, Kalmar, and MacGREGOR, each of which is the market leader in its own segment. In 2005 Cargotec's net sales exceeded EUR 2.3 billion. The company employs some 8,000 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.