Cargotec Appoints Pekka Vauramo as President of Kalmar Business Area

6/5/2007 9:43 AM|

Stock Exchange Release, June 5, 2007 at 10:00 a.m. Finnish time

Pekka Vauramo (50) has been appointed President of Cargotec's Kalmar business area starting from October 1, 2007. He joins Cargotec on September 1, 2007. Pekka Vauramo is currently President of the global Underground Hard Rock Mining segment at Sandvik Mining and Construction. He is also Managing Director of Sandvik Mining and Construction Oy in Finland. Christer Granskog (59), current President of Kalmar, will in accordance with his contract retire by the end of 2007 after supporting a smooth transition.

"Today's Kalmar has been built under Christer Granskog's time. Kalmar has been successfully transformed from a manufacturing company into a global customer and services oriented company with a strong assembly set-up. Through several acquisitions Kalmar has developed into a unified global business. I would like to thank Christer Granskog for his accomplishments and wish him all the best for the future", states Cargotec's President and CEO Mikael Mäkinen.

Mikael Mäkinen continues: "I am extremely pleased to announce Pekka Vauramo as Christer Granskog's successor. Pekka Vauramo has a strong track record within Sandvik of growing a global business profitably. Many of the challenges in the global scale and customer needs are similar to what we want to further develop within Kalmar. I am confident Pekka Vauramo's experience and skills will contribute markedly as we continue to build Kalmar into the undisputed market leader providing the most productive solutions in order to help our customers respond to the increasing demands on cargo handling speed and efficiency".

Pekka Vauramo, M.Sc.(Mining), has worked in various positions at Sandvik Mining and Construction, formerly Tamrock, since 1985 in Finland, Far East and North America. His photo and CV 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, Investor Relations and Communications

For further information, please contact:
Mikael Mäkinen, President and CEO, tel. +358 204 55 4262
Pekka Vauramo, Managing Director, Sandvik Mining and Construction Oy,
tel. +358 204 55 4243
Eeva Mäkelä, SVP, Investor Relations and Communications,
tel. +358 204 55 4281

Cargotec is the world's leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation's brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec's net sales are EUR 2.7 billion. The company employs over 9,000 people and operates in close to 160 countries. Cargotec's class B shares are quoted on the Helsinki Stock Exchange.

www.cargotec.com