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Trade press release

Cargotec reinforces offshore presence in Asia

9/27/2012

CARGOTEC CORPORATION, TRADE PRESS RELEASE 27 SEPTEMBER 2012 AT 10 AM (EEST)The partnership agreement between Cargotec and Dongnam Marine Crane Co Ltd (DMC) has now been expanded to cover the manufacture of MacGregor offshore cranes. Signed at the end of last year, the partnership agreement originally covered the manufacture of MacGregor cargo handling cranes for South Korean customers.

"Cargotec is better able to serve its customers in Asia when it has local manufacturing partners close to them," says Pasi Lehtonen, Vice President for Cargotec Offshore. "MacGregor advanced load handling solutions are well-known in the North Sea area and we are aiming to achieve the same level of popularity in Asia."

"Recent orders from the region highlight this positive growth," he adds. During the third quarter of this year, Cargotec received an order from Hyundai Heavy Industries Co Ltd in South Korea to deliver knuckle boom offshore provisions cranes for four platform supply vessels. The cranes will be manufactured by DMC. Another recent order was received from China National Offshore Oil Company (CNOOC) to deliver a 50-tonne active heave compensated (AHC) offshore crane for the subsea multi-functional support vessel, Hai Yang Shi You 286, which is being built at CSSC Guangzhou Huangpu Shipyard. This crane will be manufactured by the newly-established joint venture Rainbow-Cargotec Industries Co Ltd.

Caption: The partnership agreement between Cargotec and DMC will now cover the manufacture of MacGregor offshore cranes

For further information
Pasi Lehtonen, Senior Vice President, Offshore, tel: +358 2 41211
Email: pasi.lehtonen@cargotec.com

or

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

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. 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.