Cargotec completes acquisition of the US-based terminal operating system provider Navis
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 21 MARCH 2011 AT 10 AM (EET)
Cargotec has completed the acquisition of terminal operating system (TOS) provider Navis from Zebra Technologies Corporation (NASDAQ: ZBRA) after regulatory approvals were received. The transaction was announced on 31 January 2011.
The flexible and scalable Navis TOS software is the leading system globally in marine terminals, and used widely in rail yard operations and distribution centres. By acquiring Navis, Cargotec will further strengthen its ability to provide total solutions for its terminal customers. Navis will continue its business with its customers as an independent part of Cargotec and by maintaining its own well known brand name.
Cargotec will consolidate the results of Navis in the Industrial &Terminal reporting segment as of 19 March 2011.
For further information please contact,
Mikael Mäkinen, President and CEO, tel. +358 204 55 4243
Anne Westersund, Vice President, Communications and Marketing, tel. +358 204 55 4460
Further information for investors:
Paula Liimatta, Investor Relations Manager, tel. +358 20 455 4634
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 totalled EUR 2.6 billion in 2010 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com