Cargotec signs a long-term frame agreement with Siemens Wind Power and receives orders for over 100 Hiab cranes

CARGOTEC CORPORATION, PRESS RELEASE, 30 MARCH 2011 AT 10 AM EET

Cargotec has entered into a long-term frame agreement with Siemens Wind Power A/S, one of the world's leading suppliers of wind power solutions for onshore, offshore and coastal sites. Under the agreement, Cargotec will supply custom-made Hiab cranes for service and maintenance of Siemens wind turbines.

Cargotec will deliver product development, manufacturing and application support within the scope of the agreement. The first Hiab service cranes, developed in close cooperation with the customer for 3.6MW wind turbine sizes, have already been delivered from Cargotec's multi-assembly unit in Stargard Szczecinski, Poland. Cargotec has so far secured orders for over 100 units and the product development for other turbine sizes is going on. The volumes are expected to reach up to one thousand units of Hiab cranes per year.

"Cargotec's global presence and acknowledged position as a technology leader in its field were key factors behind our decision to choose Cargotec as the frame agreement supplier. Cargotec's closeness to the markets, as well as flexibility and ability to deliver reliable and safe solutions in a short delivery time were also highly valued," says Kai Foecking, Global Commodity Manager for service cranes at Siemens Wind Power A/S.

"This frame agreement is the result of a fruitful long-term cooperation between Cargotec and Siemens Wind Power. The agreement not only demonstrates Cargotec's competence and capability to provide complete solutions that meet the demands of the high-end wind power generation and service application, but also shows our commitment to servicing the entire renewable energy industry," says Unto Ahtola, Executive Vice President, Industrial & Terminal, at Cargotec.

The Hiab cranes, used for service and maintenance work of wind turbine generators, are specifically designed for operation in the tight space of the wind turbine nacelle. With multiple control options, the cranes are able to perform the required tasks simply and safely, yet in the least possible space.  

For further information please contact:
Unto Ahtola, Executive Vice President, Industrial & Terminal, tel. +358 20 777 4114
Anne Westersund, Vice President, Communications and Marketing, tel. +358 20 777 4181

For further information for investors:
Paula Liimatta, Investor Relations Manager, tel. +358 20 777 4084 

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2010 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com