Cargotec corporation
Cargotec’s Hiab business is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners.
In November 2022, Cargotec’s Board of Directors had decided that MacGregor would not be part of Cargotec’s portfolio in the future. In April 2023, the Board initiated planning the separation of Hiab and Kalmar.
The separation of Kalmar into a standalone listed company through a partial demerger of Cargotec was registered in the Finnish Trade Register on 30 June 2024.
In November, Cargotec announced the signing of an agreement to sell the MacGregor business area to funds managed by Triton. The closing of the transaction is expected to occur by 1 July 2025 at the latest.
As the agreement to sell MacGregor has been signed, Cargotec’s Board of Directors is proposing to Cargotec’s General Meeting of shareholders, held on 26 March 2025, that the company’s name be changed from Cargotec to Hiab. The Board of Directors would then appoint the President of the Hiab business, Scott Phillips, as the President and CEO of the renamed company.
Hiab is a leading provider of smart and sustainable on-road load handling solutions with customers operating in logistics, construction and a variety of industries. Hiab's premium equipment includes HIAB, EFFER and ARGOS loader cranes, MOFFETT and PRINCETON truck mounted forklifts, LOGLIFT forestry cranes, JONSERED recycling cranes, MULTILIFT skiploaders and hooklifts, GALFAB roll-off cable hoists, and tail lifts under the ZEPRO, DEL and WALTCO brands. As the industry pioneer, Hiab continues to make load handling smarter, safer and more sustainable to build a better tomorrow. Read more about Hiab here.