CARGOTEC CORPORATION, PRESS RELEASE, 5 OCTOBER 2009 AT 1 P.M. EEST
Cargotec to transfer off-road forestry crane business to Mesera
Cargotec has agreed to transfer its off-road forestry cranes business (cranes assembled on forestry machines) to the Finnish Mesera Salo Oy. The transfer agreement includes also stationary mounted off-road crane models. The transfer of the business and the relevant know-how will take place during October 2009. As part of the deal, some key staff in the off-road crane business will transfer to Mesera. The parties have agreed not to disclose the transaction value.
Mesera has been supplying Cargotec with key components for cranes and, since the beginning of September 2009, assembled off-road and stationary cranes. The parties have agreed that Cargotec will continue to arrange spare parts supply.
In its Hiab crane business, Cargotec has decided to focus on on-road cranes (cranes assembled on trucks). The off-road and stationary crane business transferred to Mesera can continue under the mesera-loglift brand for a certain period. Hiab will continue to sell on-road cranes under the product names Loglift and Jonsered forestry and recycling cranes.
More information for the press
Lasse Penkkala, VP, Cargotec Finland Oy, Loglift Jonsered, tel. +358 50 50 11 909
Minna Karhu, VP, Communications, tel. +358 204 55 4630 or +358 40 532 0007
More information for investors:
Paula Liimatta, IR Manager, Cargotec, tel. +358 (0)204 55 4634
Cargotec improves the efficiency of cargo flows by offering solutions for the loading and unloading of goods on land and at sea - wherever cargo is on the move. Cargotec's main daughter brands for cargo handling Hiab, Kalmar and MacGregor are global market leaders in their fields. Cargotec's global network offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. 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. www.cargotec.com