Cargotec Strengthens its Presence in Australia
Hiab, the business area providing load handling solutions within Cargotec, has made an agreement to acquire the majority of its Australian importer BG Crane Pty. Ltd., a leading distributor and service provider for load handling customers in Australia. Hiab owned previously 30 percent of BG Crane. The parties have agreed not to disclose the transaction value. The current main owner, Bob Davis, continues as Managing Director.
BG Crane has a strong customer base in the on-road load handling and related installation and service businesses. The company distributes Hiab's products as well as other products. The company employs some 100 people in its six branches in Australia and had net sales of approximately EUR 20 million in 2006.
"BG Crane has been a strong partner for Hiab in Australia for many years. This acquisition supports our strategy of being close to our customers all around the world offering both equipment and related services. It significantly strengthens our position and future opportunities in the area," states Hiab's President Pekka Vartiainen.
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.