Cargotec wins major contract for MacGregor offshore load-handling solutions from Japan

CARGOTEC CORPORATION, PRESS RELEASE, 20 JANUARY 2010 AT 10:00 AM EET

Cargotec has signed a contract to deliver a range of advanced MacGregor offshore and subsea load handling systems to a deepsea research vessel which will be built at Mitsubishi Heavy Industries Shimonoseki shipyard in Japan. The order was booked in the fourth quarter 2009 order intake.

"This contract serves as recognition of Cargotec's capacity and technological expertise in the offshore load-handling segment," says Øystein Bondevik, sales director for offshore load handling at Cargotec. The contract covers some of the major MacGregor products for ultra deepwater operations and deck handling machinery and will be manufactured at Cargotec's production hub in Kristiansand, Norway. The contractual agreement includes an extensive engineering package and customisation of solutions for special operations and the distinctive design of the vessel.

Systems ordered include a large knuckle-jib crane; an advanced moonpool-based module handling system, deck-skid system and several deepsea AHC winches with a capacity down to 10,000m. All winches in this series are fitted with a proven MacGregor electric drive system introduced three years ago. "The winch performance, compact design, power efficiency and low noise level of this system makes it a superior solution to any alternative," Mr Bondevik says.

"This order further strengthens our presence in Asia, and by working together with our global team enables us to serve our customers in the best possible way".

Further information for the press:

Øystein Bondevik, Sales Director, Offshore Load Handling, tel: +47 95 72 34 13 

E-mail: oystein.bondevik@cargotec.com

Henrik Vildenfeldt, Senior Vice President, Offshore Load Handling, tel. +45 44 54 47 47

E-mail: henrik.vildenfeldt@cargotec.com

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

Further information for investors:

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

Cargotec improves the efficiency of cargo flows by offering solutions for loading and unloading 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 EURO 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