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Stock Exchange Release

Cargotec Strengthens Its Executive Board

9/25/2006

9/25/2006 1:44 PM|

Stock Exchange Release, September 25, 2006 at 2.00 p.m. Finnish time

Cargotec has appointed two new persons into its Executive Board (previously Executive Committee). Harald de Graaf (40) has been appointed Senior Vice President, Services and Matti Sommarberg (45) Senior Vice President, Operations Development.

Harald de Graaf, B.Sc. (Eng.), is currently Managing Director of KONE Ireland Ltd. He has worked in several positions at KONE since 1987. Matti Sommarberg, M.Sc. (Eng.) and M.Sc. (Econ.), is currently Vice President, Business and Operations Development of Cargotec's Kalmar business area. He has worked for Cargotec since 1985.

"We have defined services as a key strategic growth area for Cargotec. Harald de Graaf's broad global experience will significantly contribute to growing our services operations further. Another core area in our strategy is to better utilize and develop our global network and common technology platforms as one company. Matti Sommarberg's long track record in the business offers valuable insight and skills for improving our way of working", states Cargotec's President and CEO Mikael Mäkinen.

The appointments take effect on November 1, 2006. The photos and CVs of Harald de Graaf and Matti Sommarberg are available on Cargotec's web pages at www.cargotec.com.

Sender:
Cargotec Corporation

Kari Heinistö
Senior Executive Vice President and CFO

Eeva Mäkelä
SVP, IR and Communications

For further information, please contact:
Mikael Mäkinen, President and CEO, tel. +358 204 55 4243
Eeva Mäkelä, SVP IR and Communications, tel. +358 204 55 4281

Cargotec Corporation is the world's leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. Cargotec'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 company employs some 8,000 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.

www.cargotec.com