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Press release

Cargotec Adjusts Operations in Finland due to the Market Situation

1/12/2009

Due to the uncertainty of the global materials handling equipment market and decline in demand, Cargotec has today announced the start of new employee cooperation negotiations about temporary layoffs, reductions and cost savings in its units in Raisio and Tampere in Finland. Cargotec plans to adjust the production capacity and operations mainly by planned temporary layoffs affecting all employees in these units, a total of about 900 persons, for a fixed period of maximum of 90 days. Planned measures of permanent layoffs affecting some 60 people in Tampere will also be negotiated.
 
The new measures are an addition to Cargotec's previous global restructuring measures. The actions taken now are needed in order to adjust production capacity to the declining demand of Hiab and Kalmar products.
 
Cargotec employs some 1,700 employees in Finland.
 
 
For more information please contact:
 
Tampere: Jorma Tirkkonen, Director, Container Crane Systems
tel. +358 (0)3 265 8202
 
Raisio: Kalevi Nurmi, VP, Hiab Segment Business
tel.  +358 (0)204 55 2210
 
Minna Karhu, Vice President, Corporate Communications
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