CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 6 FEBRUARY 2020 AT 09:05 AM EET
Cargotec to evaluate strategic options for Navis business
Cargotec has decided to evaluate strategic alternatives for its Navis business to identify the best options to support future development of Navis.
Cargotec acquired Navis in 2011 and has successfully developed it during its ownership by more than doubling Navis revenue to EUR 115 million in 2019. Navis business is profitable.
To secure the best possible growth and value creation for the next development phase for Navis, Cargotec will review alternative development paths, including new ownership structures and a potential sale of Navis software business. Cargotec’s other software business will not be part of the evaluation.
Navis is a global leader providing mission critical software solutions and services to terminal operators, ocean carriers, ship owners and inland logistics operators.
For more information, please contact:
Mikael Laine, Senior Vice President, Strategy, tel. +358 20 777 4179
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totalled approximately EUR 3.7 billion and it employs around 12,500 people. www.cargotec.com