Cargotec plans to adjust and restructure its operations in Hudiksvall, Sweden

CARGOTEC CORPORATION, PRESS RELEASE, 29 NOVEMBER 2012 AT 10 A.M. EET

Cargotec is planning to adjust and restructure its operations in Hudiksvall, Sweden in order to improve profitability and to respond to the global market situation. In the short-term, the company needs to adjust its production capacity due to a decline in demand and the uncertainty of the European load handling equipment market.  It is also vital to develop a more competitive production and transport set-up closer to existing and future customers and partners in the long term. 

According to plans, Cargotec would change the future production responsibility of the smaller loader cranes in the range up to 11 ton meters and from 21 up to 28 ton meters to its unit in Stargard, Poland. 

Cargotec plans to continue the production of a part of the loader cranes product range, as well as the production of recycling and forestry cranes in Hudiksvall. Product development, sales and after sales support as well as service and other related support functions will continue to be located in Hudiksvall.  

Due to the plans, Cargotec will begin negotiations with the unions on the possible personnel reductions in Hudiksvall. According to the initial estimate, the planned measures could result in the reduction of approximately 150 employees in Hudiksvall. 

For more information, please contact 

Mika Selänne, Vice President Supply Load Handling, tel. +358 40 566 8199

Anne Westersund, VP Comms and Marketing, tel. +358 20 777 4460

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 3.1 billion in 2011 and it employs approximately 10,500 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com