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Press release

Cargotec Acquires Offshore Service Company in North America

4/10/2008

Cargotec's MacGREGOR business area providing marine cargo handling and offshore load handling solutions has signed an agreement to acquire US based Platform Crane Services International Inc (PCS).  The sales of the company in 2007 were approximately USD 16 million and the company employs 105 persons. The transaction is subject to due diligence. The parties have agreed not to disclose the transaction value.
 
PCS was established in 1983 and, as well as its headquarters in Slidell, Louisiana, has offices in Lafayette, Houston and Del Carmen in Mexico. PCS specialises in the service, repair and maintenance of marine and offshore cranes with an emphasis on Gulf of Mexico installations. The product and service offering also includes inspections, load testing and installations. The acquisition complements MacGREGOR's existing offshore service offering in North Sea and Asia Pacific, and increases presence in the important Americas and Gulf of Mexico area.
 
Sender:
Cargotec Corporation
 
Eeva Mäkelä
CFO
 
For further information, please contact:
Harald de Graaf, President, Cargotec Services, tel. + 31 623 119 402
Olli Isotalo, President, MacGREGOR, tel. +358 204 55 4253
Minna Karhu, Vice President, Corporate Communications, tel. +358 204 55 4630

Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive repair and maintenance services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales are EUR 3 billion and the company employs over 11,000 people. Cargotec's class B shares are quoted on the OMX Nordic Exchange Helsinki.
 
www.cargotec.com