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Stock Exchange Release

Mika Vehviläinen to be Cargotec's new President and CEO as of 1 March 2013



Cargotec's Board of Directors has in its meeting on 27 January, 2013 appointed Mr. Mika Vehviläinen (M.Sc. (Econ.), b. 1961, as Cargotec's new President and CEO. Vehviläinen will start at Cargotec on 1 March 2013. Tapio Hakakari, Cargotec's Vice Chairman of the Board, will continue as the interim President and CEO until 28 February 2013.

Mika Vehviläinen is currently the President and CEO of Finnair Plc. Previously he has held senior leadership positions at Nokia Siemens Networks and Nokia, and has worked in logistics and service development duties in the United States and in Asia.

"During his successful international career, Vehviläinen has convincingly proven his leadership and result creating skills even during difficult circumstances. The Board is certain that under his management Cargotec is well prepared to face the future changes and challenges," states Cargotec's Chairman of the Board Ilkka Herlin.

"The importance of transport and logistics will continue to increase in the future. Cargotec as the forerunner in cargo handling solutions offers an interesting challenge. I am excited to develop Cargotec business further, together with the whole personnel," says Vehviläinen.

Mika Vehviläinen's CV and picture are attached on this release. His remuneration has been described as part of the CV.

Press conference
Cargotec will host a press conference on the appointment on Monday 28 January 2013 at 10 a.m. EET at its head office Porkkalankatu 5, Helsinki, Finland (register at the reception on the 6th floor). The press conference will be held in Finnish. Ilkka Herlin, Cargotec's Chairman of the Board, and Tapio Hakakari, Vice Chairman of the Board and the interim President and CEO, as well as Mika Vehviläinen will be present.

Further information for the press:
Ilkka Herlin, Chairman of the Board of Directors, Cargotec Corporation, tel. +358 20 777 4101
Anne Westersund, Vice President, Communications, tel. + 358 20 777 4460
Further information for investors:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4105

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.


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