Cargotec Acquires Tail Lift Companies in North America and Europe
Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement to acquire UK based DEL Equipment (UK) Limited and US based Ultron Lift Corp. The companies owned by Militello Holdings, Inc. manufacture tail lifts in UK and US. DEL is the market leader in UK and Ultron is the market leader in Canada. The sales of the companies in 2007 were approximately EUR 23 million in total and the companies employ 164 persons. The current management will continue in their positions in both companies.
The acquisitions will complete Hiab's tail lift product range, which after the acquisitions will be the most comprehensive. The acquisitions strengthen further Hiab's position as global market leader in the tail lift industry.
For further information, please contact:
Pekka Vartiainen, President, Hiab, tel. +358 204 55 4264
Eeva Mäkelä, CFO, tel. +358 204 55 4281
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.