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Press Release

Cargotec Plans to Reorganise its Operations in Southern Sweden

1/19/2009

 
Cargotec plans to make its operations in Southern Sweden (SmÃ¥land region) more efficient by reorganising and transferring a majority of its business area Kalmar's operations in Ljungby to its Lidhult facility, located approximately 40 kilometres west of Ljungby. The reorganisation would affect personnel working in the areas of development (R&D), technology, sales, sourcing, logistics and assembling.  The service operations, finance and accounting would according to the plan remain in Ljungby.  
 
This initiative is in line with Cargotec's long-term goal to improve competitiveness and necessary to sustain a leading position in the European market. The transfer is estimated to result in annual savings of EUR 2 million and is estimated to cost approximately EUR 4 million. Additionally, some EUR 3 million will need to be invested in Lidhult to accommodate the new products. The transfer cost is covered by the earlier announced EUR 35 million total cost of restructuring operations.
 
The company's intention is to offer approximately the 175 employees from the areas concerned the opportunity to relocate. The transfer is planned to start during April - May and it is expected to be finalised during this year. Together with the local unions, the company will make plans how to make the transfer and reorganisation in the best possible way.
 
Kalmar assembles reachstackers, container handlers and forklift trucks in Ljungby and Lidhult. In the beginning of the year 2009 Cargotec employed some 380 people in total in Ljungby and some 340 people in Lidhult. Cargotec employs approximately 2,400 employees in Sweden.
 
 
More information for the press:
 
Axel Leijonhufvud, Senior Vice President, Product Supply, tel. +46 (0)372 37 8170
 
Gert Larsson, Vice President Operations, Cargotec Supply, tel. +46 (0)372 378024
  
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.