10/31/2005 12:13 PM|
October 31, 2005
Cargotec disclosed on September 21, 2005 that it has signed an agreement to divest its 42 percent minority stake in precast concrete element manufacturer Consolis to a consortium of institutional investors represented by the European Private Equity firm Industri Kapital, certain co-investors and management.
The buyer's financing arrangements, to which the acquisition was subject to, have now been concluded and the transaction has been closed on October 31, 2005. The final price for Cargotec's stake was approximately EUR 82 million, and the resulting capital gain approximately EUR 15 million.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Kari Heinistö, Senior Executive Vice President and CFO, tel. +358 204 55 4542
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo-handling solutions for ships, ports, terminals and local distribution. Its three business areas, Kalmar, Hiab and MacGREGOR operate in materials hubs. Net sales of Cargotec were approximately EUR 1.9 billion in 2004. The company has approximately 7,400 employees and operates in over 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.