1/26/2006 9:29 AM|
Stock Exchange Release, January 26, 2006 at 10:45 a.m.
Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement to acquire Dutch tail lift producer AMA. The acquisition is subject to completion of a due diligence process.
AMA consists of a manufacturing company AMA Polska Sp.z.o.o based in Poland and a sales company Stama B.V. in Holland. The company is currently investing in a new tail lift production facility in Oborniki near Poznan, Poland. AMA employs approximately 55 people and had net sales of approximately EUR 4 million in 2005.
"The acquisition of AMA will make us the market leader in tail lifts in Poland and further strengthens our market position in the Netherlands. The new Polish production facility will enable us to better serve our customers and gives a good basis to further expand our presence in Eastern Europe", states Lennart Bohman, Managing Director of Hiab's Tail Lifts.
Hiab is the leading tail lift manufacturer in the world with a strong market position and product offering. Hiab's tail lifts are sold under the ZEPRO, FOCOLIFT and WALTCO brands. Products include standard lifts, half lifts, folding lifts, raillifts and sliders made of both steel and aluminum, with lifting capacities ranging from 450 to 2,500 kg.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Pekka Vartiainen, President, Hiab, tel. +358 204 55 4264
Lennart Bohman, Managing Director, Tail Lifts, tel. +46 70 588 8888
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo handling solutions whose solutions are used in local transportation, terminals, ports, distribution centers, and ships. Cargotec Group's operations are divided into three strong, global business areas: Hiab, Kalmar, and MacGREGOR, each of which is the market leader in its own segment. In 2005 Cargotec's net sales exceeded EUR 2.3 billion. The Group employs some 7,500 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.