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Stock Exchange Release

Changes in roles of Cargotec's Executive Board members

10/05/2012

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 10 MAY 2012 AT 2 P.M. (EEST)

Cargotec changes roles of Executive Board members in order to further accelerate the implementation of its strategy.  Cargotec aims to grow Marine business in Asia especially in offshore and to accelerate the operational performance improvement of Terminals to enable further growth. 

Chief Operating Officer Pekka Vauramo has been appointed Executive Vice President, Marine as of 1 August 2012. He will continue as Deputy to CEO. President and CEO Mikael Mäkinen will act as the Head of Marine business area from 14 May until 1 August 2012.

Olli Isotalo, currently Executive Vice President, Marine, has been appointed Executive Vice President, Terminals as of 14 May 2012.

Unto Ahtola, currently Executive Vice President, Terminals, will transfer to a new role as Executive Vice President concentrating on development projects from 14 May 2012. He continues to report to Mikael Mäkinen.

Pekka Vauramo, Olli Isotalo and Unto Ahtola will continue as members of the Executive Board.

"We are determined to grow as a global market leader in cargo handling solutions. With these changes, we can utilise the best experiences and competences within our top management and support both Marine and Terminals business areas, which are in different phases of development. In Marine, we aim for further profitable growth in Asia and in Terminals for improved profitability and successful execution of its growth strategy within port automation. As a company we have to be agile to constantly develop and focus - key success factors in this changing environment," says Mikael Mäkinen.

Further information for the press:
Mikael Mäkinen, President and CEO, tel. +358 20 777 4100
Anne Westersund, Vice President Communications and Marketing, tel. + 358 20 777 4460

Further information for investors:
Eeva Sipilä, CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

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 3.1 billion in 2011 and it employs approximately 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com