German Competition Authority Bans Cargotec's Acquisition of CVS Ferrari
Cargotec has today been notified that the German competition authority (Kartelamt) has banned Cargotec's acquisition of Italian CVS Ferrari on the basis of it being anticompetitive. Cargotec is examining the decision and its fundaments.
Cargotec announced the plan to acquire CVS Ferrari on December 29, 2006 with the deal being subject to competition authority approval.
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 sales are EUR 2.8 billion. The company employs over 10,000 people and operates in close to 160 countries. Cargotec's class B shares are quoted on the Helsinki Stock Exchange.