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Press Release

Cargotec Ends Employee Co-operation Negotiations in Sweden

12/12/2008

Cargotec has ended the employee co-operation negotiations which were announced and started in Sweden in November. The employee co-operation negotiations resulted in a solution, according to which Cargotec reduces its workforce in Sweden by 332 employees. In addition to ending permament employment contracts, the workforce is reduced by cutting down the number of external employment contracts and by not replacing retiring or resigning employees. The number includes also temporary employment contracts which will not be continued after expiration. These measures were taken to adjust capacity to the prevailing market situation and to increase profitability.
 
Currently Cargotec employs approximately 2,400 employees in Sweden.
 
More information for the press:
 
Pekka Vartiainen, President, Hiab
Tel. +358 (0)204 55 4401
 
Pekka Vauramo, President, Kalmar
Tel. +358 (0)204 55 4873
 
Minna Karhu, Vice President, Corporate Communications, Cargotec
Tel. +358 (0)204 55 4630
Mobile +358 (0)40 532 0007

More information for the investors:
 
Paula Liimatta, IR Manager
Tel. +358 (0)204 55 4634
 
 
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 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 exceed EUR 3 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.
 
www.cargotec.com