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Press release

Employee cooperation negotiations end in Finland

11/23/2009

CARGOTEC CORPORATION, PRESS RELEASE, 23 NOVEMBER 2009 AT 2 P.M. EET
 
Employee cooperation negotiations end in Finland
 
Cargotec has completed cooperation negotiations regarding temporary layoffs and redundancies in Finland on 23 November 2009. The negotiations resulted in permanent reduction of 168 employees in Finland, of whom 97 persons will be affected by an actual lay-off in Tampere unit. In addition, temporary lay-offs in the Tampere unit continue.
 
These measures are part of the plan to merge Hiab and Kalmar business areas and to adjust to the market situation. Cargotec employs approximately 1,300 people in Finland.
 
 
Further information for the press:
 
Matti Sommarberg, Chief Technology Officer and Country Manager, Finland
Tel. +358 (0)3 265 8240
 
Minna Karhu, Vice President, Corporate Communications
Tel. +358 (0)204 55 4630
 
Further information for investors:
 
Paula Liimatta, IR Manager
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 10 500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com