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Press Release

Cargotec Forms Port Security Subsidiary


Cargotec Corporation has formed a subsidiary, Cargotec Port Security, to develop enhanced container security solutions that do not compromise the efficiency of container flow through ports. Cargotec has been exploring and investing in the area of radiation detection in container security for the past two years through its subsidiary Bromma Conquip AB, the world leader in container spreaders. Bromma has entered into an exclusive global technical licensing agreement with US-based Innovative American Technology, one of the few firms able to help terminals meet the technical requirements regarding isotope identification and measurement of isotope characteristics incorporated in recent security legislation in the United States.
Cargotec Port Security will work with Innovative American Technology to fully commercialize advanced cargo handling radiation detection. The new company will initially focus on radiation detection solutions mounted on spreaders to enable terminals to perform in-transit container screening during the normal course of ship-to-shore and shore-to-ship handling operations.
Cargotec Port Security and its partners are at an advanced stage of the certification process with the US government agency Domestic Nuclear Detection Office for compliance with American National Standards Institute requirements. Testing at the USA Department of Energy's Oakridge National Laboratory began in November 2007 and field testing of spreader-mounted radiation detection has started.
Cargotec Corporation
Eeva Mäkelä
For further information, please contact:
Eeva Mäkelä, CFO, tel. +358 204 554281
Per-Anders Holmström, Chairman, Cargotec Port Security, tel.: +46 8 620 0900
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 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.
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