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Kalmar Trade press release

Cargotec signs cooperation agreement with ST Kinetics

11/17/2011

CARGOTEC CORPORATION, TRADE PRESS RELEASE, 17 NOVEMBER 2011 AT 3 P.M. (EET)

Cargotec has signed a cooperation agreement with Singapore Technologies Kinetics Ltd (ST Kinetics) to develop automated port equipment.  The parties have agreed to begin cooperation by developing applications and related systems for container terminal customers.  This agreement is a continuation of Cargotec and ST Kinetics' earlier successful cooperation.

Mr Sew Chee Jhuen, President of ST Kinetics said, "Cargotec introduced the new Kalmar Hybrid Hydraulic  Drive Terminal Tractor in 2010, as a result of our excellent partnership in hybrid solutions.  We are delighted to extend our cooperation to the field of automated equipment, in which Cargotec has been a pioneer for over 20 years."

"Combined with its know-how in drive systems and sensor technology, ST Kinetics' local expertise represents a major contribution to our developing customer focused solutions.  The two companies complement each other extremely well in port automation solutions," says Cargotec's Ismo Matinlauri, Senior Vice President, Port Cranes.

Cargotec has been steadily developing its track record in the field of port automation since the 1990s.  In June of this year, Cargotec announced the opening of its Technology and Competence Centre in Singapore.  This Centre is focused on the development of automation systems.  The company is also building the world's largest port automation test area in Finland.  Cooperation under this agreement will be managed through the Singapore Technology and Competence Centre.

Cargotec acquired terminal operating systems provider Navis earlier this year.  This will enable Cargotec and Navis to offer joint solutions to ports.  Cargotec also unveiled plans to establish a joint venture with Jiangsu Rainbow Heavy Industries Co Ltd in China, in order to provide leading heavy crane solutions globally.

ST Kinetics delivers integrated land systems, specialty vehicles and their through life support for defence, homeland security and commercial applications. The company is the land systems arm of Singapore Technologies Engineering Ltd, one of Asia's leading defence and engineering companies.

Photo caption: Signing ceremony was attended by (from left to right) Mr. Edward Houng, Vice President, Terminal Business, Asia Pacific, Ms. Elisa Nuutinen, Vice President, Special Products, Port Cranes and Ismo Matinlauri, Senior Vice President, Port Cranes from Cargotec and Mr Mah Chi Jui, SVP, Mr Sew Chee Jhuen, President and Mr Richard Chin, Centre Head from ST Kinetics

For further information, please contact:
Ismo Matinlauri, Senior Vice President, Port Cranes Division, tel. + 358 2 412 1308
Pauliina Koivunen, Public Relations Director, tel. +358 20 777 4205

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 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com

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