Cargotec Executive Board Renewed

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 22 JANUARY 2010 AT 10:00 EET

Cargotec transferred, as earlier announced, from the beginning of year 2010 to a two business area structure. The business areas are Marine (comprising earlier MacGregor operations) and Industrial and Terminal (I&T comprising earlier Hiab and Kalmar operations). As part of the change the corporate Executive Board is renewed.

Cargotec's Executive Board consists of the following members: Mikael Mäkinen, President and CEO; Pekka Vauramo, Deputy to CEO and Senior Executive Vice President, Industrial and Terminal business area; Olli Isotalo, Executive Vice President, Marine business area; Axel Leijonhufvud, Executive Vice President, Supply; Eeva Sipilä, Executive Vice President, Chief Financial Officer; Kirsi Nuotto, Executive Vice President, HR and Communications; Matti Sommarberg, Executive Vice President, Chief Technology Officer; Harald de Graaf, Executive Vice President, EMEA region; Ken Loh, Executive Vice President, APAC region; Lennart Brelin, Executive Vice President, Americas region; Unto Ahtola, Executive Vice President, Product Solutions, I&T and Stefan Gleuel, Executive Vice President, Service Solutions, I&T.

Senior Executive Vice President Kari Heinistö and Executive Vice President of Hiab business area Pekka Vartiainen will leave the Executive Board. Kari Heinistö will join a new employer as of 1 April 2010. Pekka Vartiainen will develop a common way of working towards Cargotec's defence business customers.

For further information, please contact:

Mikael Mäkinen, President and CEO, tel. +358 (0)204 55 4262

Minna Karhu, Vice President, Communications, tel. +358 (0)204 55 4630

Further information for investors:

Eeva Sipilä, CFO, tel. +358 (0)204 55 4281

Paula Liimatta, Investor Relations Manager, tel. +358 (0)204 55 4634

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 10,500 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com