Transfer of Cargotec's component manufacturing in Estonia to Komas completed
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 13 FEBRUARY 2012 AT 2 P.M. (EET)
Cargotec has completed the transfer of its component manufacturing operations in Estonia to Komas that was announced on 30 November 2011. The parties have agreed not to disclose the value of the transaction.
Komas is already one of Cargotec's preferred suppliers of steel structures and Cargotec will remain a key customer of the plant. By deepening this relationship, Cargotec secure a recognised partner for the supply of components.
All approximately 370 employees have transferred to Komas Estonia, which will continue operations in the existing premises.
Further information for the press:
Mika Selänne, Vice President Operations EMEA, tel +358 40 566 8199
Anne Westersund, Vice President Communications and Marketing, tel: + 358 20 777 4460
Further information for investors:
Paula Liimatta, Investor Relations Director, 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 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV www.cargotec.com
Komas is a system supplier for the engineering industry. Its operations cover machining, assembly, hydraulics and logistics services. The company has facilities in nine Finnish municipalities and factories in Poland and China. The head office is located in Jyväskylä. The Komas Group employs approx. 1,200 people and its turnover in 2010 was approx. MEUR 120.