Cargotec appoints new senior vice president for its Offshore business segment

CARGOTEC CORPORATION, TRADE PRESS RELEASE, 19 JANUARY 2012 AT 10 A.M (EET)Pasi Lehtonen has been appointed as Senior Vice President of Cargotec's Offshore business segment, effective from the beginning of January. Mr Lehtonen has worked with Cargotec since 1995, his most recent position being Senior Vice President of Finance for Cargotec's Marine business. He will continue as a member of Marine's management group.

In an earlier announcement, Cargotec confirmed the appointment of Tom Svennevig as Vice President for its Offshore segment's advanced load-handling business, and Ilpo Heikkilä as Vice President for its Offshore segment's winch business.

"Our competence centres for advanced load-handling in Kristiansand, Norway, and for winches in Singapore, offer their services for our global customers," says Olli Isotalo, Executive Vice President, Marine. "Pasi Lehtonen will bring vast general management experience, which will help speed up our growth in the offshore industry."

Cargotec offers MacGregor load-handling solutions to the offshore industry. The range includes marine, offshore and subsea cranes with active heave-compensation, fibre rope handling systems for ultra deepwater load handling, launch and recovery systems for ROVs/Ts, module handling systems, sophisticated rescue and deck-handling equipment, and advanced winches for anchor handling and towing and mooring operations.

Further information for the press:
Olli Isotalo, Executive Vice President, Marine, tel: +358 20777 4110
Email: olli.isotalo@cargotec.com

or

Heli Malkavaara, Communications Director, Marine, tel: +358 2 4121 252
Email: heli.malkavaara@cargotec.com

Photo: Pasi Lehtonen

Notes to editors

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

MacGregor is the global market-leading brand in marine cargo handling and offshore load-handling solutions. Customer-driven MacGregor engineering and service solutions for the maritime transportation industry andthe offshore load-handling and naval logistics markets are used on board merchant ships, offshore support vessels, and inports and terminals. www.macgregor-group.com