CARGOTEC CORPORATION STOCK EXCHANGE RELEASE April 28, 2009 at 9.25 a.m. EEST
Cargotec is proceeding with an investment plan for a multi-assembly unit (MAU) in Stargard Szczecinski in Northern Poland, to improve its global supply footprint. Estimated cash flow impact of the investment cost in 2009 is close to EUR 20 million.
Cargotec Product Supply strategy is to strengthen the company's presence to better meet the customer base development, as well as lower the production and transportation costs and to strengthen the sourcing activities in Central Eastern Europe.
Land purchase is estimated to be finalised in early summer 2009 and production is planned to start initially in rented premises in the same region during 2009. The first products planned to be assembled in rented facilities during the last quarter of 2009 are spreaders and medium range terminal tractors. The recruitment has started and in the initial stage the focus is on recruiting the key personnel and setting up the training of product assembly.
The new MAU in Stargard Szczecinski is planned to support the production of a wide range of Cargotec equipment. Production start in own premises on the new site is planned for the second quarter in 2010.
More information for the press:
Mikael Mäkinen, President and CEO, tel. +358 (0)204 55 4262
Axel Leijonhufvud, Senior Vice President, Product Supply, tel. +46 372 37 8170
Minna Karhu, Vice President, Corporate Communications, 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
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 totalled EUR 3.4 billion in 2008 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.