Cargotec's CVS Acquisition Put on Hold
In December 2006, Cargotec agreed to acquire the Italian company CVS Ferrari. The German competition authorities are demanding remedy actions, which Cargotec believes are disproportionate to the impact the contemplated transaction would have on the competitive environment. Cargotec and CVS Ferrari are cooperating in order to find a satisfactory solution in order to finalize the acquisition. However, for the time being both Cargotec and CVS Ferrari continue to be independent competitors pursuing their own business.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec is the world's leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation's brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec's net sales are EUR 2.7 billion. The company employs over 9,000 people and operates in close to 160 countries. Cargotec's class B shares are quoted on the Helsinki Stock Exchange.