Cargotec signs EUR 20 million contract for MacGregor subsea load and module handling systems

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 2 JUNE 2010 AT 1.30 PM (EEST)

Cargotec has signed EUR 20 million contract for MacGregor subsea load and module handling systems to be installed on Hallin Marine Subsea International PLC's 'ground-breaking' design of compact semi-submersible (CSS) offshore vessel. The equipment will be delivered during the second half of 2011.

"We focus on delivering integrated solutions that will optimise the functions, and thus the overall functionality, of a specific ship type," says Henrik Vildenfeldt, Cargotec's senior vice president responsible for offshore load handling. "Contracts such as this are testimony to our customers' confidence in both the superior technology and reliability of MacGregor equipment, and our ability to provide complete integrated solutions that will ensure sustainable, function-intended operations".

Hallin Marine says the 84m-long by 32m-wide twin-hulled compact semi-submersible (CSS) will be named CSS Derwent, and is the culmination of a five-year project designed to deliver 'large boat capability' at the price of a much smaller vessel, with a primary focus on light well intervention. CSS Derwent was designed by STX Canada Marine Inc.

MacGregor systems comprise:

·    a 150 tonne subsea active heave-compensated knuckle-jib crane with a 3,000m wire capacity

·   an offshore service crane

·   several ROV launch and recovery systems including moonpool-based and deck-mounted versions with umbilical winches

·   a module-handling system with a tower, moonpool system and a fully integrated deck-skid system.

With its global service organisation, Cargotec offers integrated service solutions to marine and offshore operators. As part of the service agreement pertaining to this contract, Cargotec will deliver equipment with remote diagnostic capabilities and provide operator training courses.

Cargotec will design, manufacture and test contracted systems at its offshore load handling competence centres in Norway and Singapore.

Further information for the press:

Øystein Bondevik, Sales Director, Offshore Load Handling, tel. +47 9572 3413

E-mail: oystein.bondevik@cargotec.com

Henrik Vildenfeldt, Senior Vice President, Offshore Load Handling, tel. +45 4454 4747 
E-mail: henrik.vildenfeldt@cargotec.com

Pauliina Koivunen, Director, External Communications, tel. +358 (0)3 265 8111

Further information the investors:

Paula Liimatta, Investor Relations Manager, tel. +358 (0)204 55 4630

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totaled EUR 2.6 billion in 2009 and it employs approximately 9,500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com