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Press Release

Cargotec Restructures Its Operations in Tampere, Finland due to the Market Situation


As a result of continuing low demand of cargo handling equipment Cargotec starts co-operation negotiations in its unit in Tampere, Finland, about extending the on-going temporary layoffs to continue until further notice and possible permanent layoffs. The planned possible temporary layoffs to be continued until further notice are estimated to affect some 300 people and the permanent layoffs are estimated to affect some 90 people. The planned permanent layoffs are partly due to a planned re-organisation. The co-operation proceedings initiated now include a total of some 400 people. These measures are necessary to adjust the production capacity to meet the low demand of products and to ensure the company's competitiveness in the global markets. In order to improve profitability, Cargotec continues to implement its global supply strategy to get closer to the markets and to lower cost environment. To reach this target the company plans to rent production and office facilities in Poland and start assembly of spreaders and terminal tractors within this year. The capacity will depend on the market situation and the demand for the products. In the initial stage the focus is on recruiting the key personnel and setting up the training of product assembly. Cargotec employs close to 1,600 people in Finland. More information for the press: Jorma Tirkkonen, Director, Container Crane Systems Tel. +358 (0)3 265 8202 Minna Karhu, Vice President, Corporate Communications, Cargotec Tel. +358 (0)204 55 4630, mobile +358 (0)40 532 0007 More information for the investors: Eeva Sipilä, CFO, tel. +358 (0)204 55 4281 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 3.4 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.
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