Cargotec continues its On the Move change programme by planning to merge Hiab and Kalmar operations globally

STOCK EXCHANGE RELEASE 22 JUNE 2009 at 10.05 AM EEST

Cargotec announces a plan to develop a new operating model for Hiab and Kalmar business areas globally as a part of its On the Move change programme. On the Move change program was launched in February 2008 to accelerate the company’s strategy execution, to increase operational efficiency and to enhance customer focus. The development of the new operating model is in accordance with and supports the change program’s targets.

According to the plan, Cargotec will form a new Customer Operations organisation. Hiab and Kalmar business areas will merge their current separate sales and services organisations into three regions: Cargotec Americas, Cargotec Asia-Pacific and Cargotec EMEA, as part of the organisation.

The new Customer Operations organisation will be headed by Pekka Vauramo (52), who has been appointed Senior Executive Vice President, Cargotec Customer Operations as of July 1, 2009. He will continue in his role as Deputy to CEO and member of Cargotec’s Executive Board.

The merger of Hiab and Kalmar sales and service networks within the EMEA region was already initiated in April 2009. The new Cargotec EMEA sales and service organisation will become effective on 1 July 2009. Harald de Graaf (43), member of Cargotec’s Executive Board, has been appointed Executive Vice President, Cargotec EMEA as of July 1, 2009. In addition, Harald de Graaf continues to be responsible for Corporate Development.

External financial reporting will continue unchanged at least through 2009. Current Cargotec structure with Hiab, Kalmar, MacGregor and Services business areas remain in place until further notice. The personnel implications of the planned changes depend on the future operating model, and more information will be communicated as the plans proceed.

Additionally, Kirsi Nuotto (50), member of Cargotec’s Executive Board, has been appointed Executive Vice President, Human Resources and Communications as of July 1, 2009.


More information for the press:
Mikael Mäkinen, President and CEO, tel. +358 (0)204 55 4262 
Pekka Vauramo, Deputy to CEO, President, Kalmar Business Area, tel. +358 (0)204 55 4873
Minna Karhu, Vice President, Corporate Communications, tel. +358 (0)204 55 4630

More information for the investors:
Eeva Sipilä, CFO, tel. +358 (0)204 55 4281


Cargotec improves the efficiency of cargo flows by offering solutions for the loading and unloading of goods on land and at sea – wherever cargo is on the move. Cargotec’s main daughter brands for cargo handling Hiab, Kalmar and MacGregor are global market leaders in their fields. Cargotec’s global network offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totalled EUR 3.4 billion in 2008 and it employs approximately 11,000 people. Cargotec’s class B shares are quoted on the NASDAQ OMX Helsinki.