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Press Release

Cargotec Board of Directors' Organising Meeting


Cargotec's Board of Directors elected in the Annual General Meeting has in its organising meeting elected Ilkka Herlin to continue as Chairman of the Board. Tapio Hakakari was elected as Deputy Chairman. Cargotec's Senior Executive Vice President Kari Heinistö will continue to act as secretary to the Board of Directors.

Cargotec's Board of Directors decided that the Audit Committee and Nomination and Compensation Committee will continue to assist the Board in its work.

The Board of Directors elected among its members Ilkka Herlin, Karri Kaitue and Anja Silvennoinen as members of the Audit Committee. Karri Kaitue was re-elected as Chairman of the Audit Committee. The Board considers all members of the Committee to be independent from the Company and all except Ilkka Herlin to be independent of major shareholders. The Board considers that the membership in the Audit Committee of Ilkka Herlin as a significant shareholder is warranted.

Board members Tapio Hakakari, Ilkka Herlin, Peter Immonen and Antti Lagerroos were elected to the Nomination and Compensation Committee. Ilkka Herlin was re-elected as chairman of the Nomination and Compensation Committee.

For further information, please contact:

Kari Heinistö, Senior Executive Vice President, Secretary to Board of Directors,
tel. +358 204 55 4256

Eeva Sipilä, CFO, tel. +358 204 55 4281

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 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 total EUR 3.4 billion and it employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.
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