Cargotec Expands Load Handling Operations in Eastern Europe
Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement of intent to acquire the sales, service and installation operations of its distributor Berger in four Eastern European countries: Croatia, Czech Republic, Hungary and Slovakia. These operations consist of seven sales and service/installation points, which have annual sales of approximately EUR 16 million and employ some 85 people. The transaction is subject to due diligence.
"Eastern Europe is a growing market for load handling products installed on trucks. Our successful cooperation with Berger during many years has enabled building up a good foothold in Eastern European countries. By now acquiring the operations we want to further strengthen our presence in these markets", states Pekka Vartiainen, President of Cargotec's Hiab business area.
Berger, a privately owned Austrian company, is a long-time partner of Hiab and has distributed Hiab products in five countries. Berger will continue to distribute Hiab products in Austria.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Pekka Vartiainen, President, Hiab, tel. +358 204 55 4264
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 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.