Cargotec's MacGregor secures USD 50 million of orders for further high efficiency cargo handling solutions from Hyundai Heavy Industries

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 26 JUNE 2014 AT 10.00 AM (EEST)

Cargotec's MacGregor secures USD 50 million of orders for further high efficiency cargo handling solutions from Hyundai Heavy Industries

MacGregor, part of Cargotec, has received further orders, worth around USD 50 million, for optimised cargo handling systems from Hyundai Heavy Industries Co Ltd in South Korea. The latest contract stems from the United Arab Shipping Company (UASC) exercising its options for six more A-14-series and one more A-18-series container vessels from the yard, taking the total number of 14,500 TEU container ships to eleven and 18,800 TEU container ships to six. The original order, announced in November 2013, saw UASC order five A-14-series and five A-18-series container vessels. The vessels are on a rolling schedule of deliveries that starts this year and continues into 2016.

All the container ships will feature optimised MacGregor cargo handling solutions designed to maximise their cargo carrying capability and operational efficiency. The MacGregor cargo handling system comprises hatch covers, a comprehensive lashing system and the product software, Lashmate(TM). A five-year extended MacGregor Onboard Care (MOC) agreement and a five-year operation guarantee are included in the contract.

"To meet our customer's exact requirements and to maximise the vessels' efficiency and earning potential, MacGregor's specialist solutions business model has been applied to this order," says Ari Viitanen, Director, MacGregor Customer Solutions. "This approach secures our early involvement in the ship specification phase, which is essential from the cargo system productivity point of view."

He adds: "The advantages offered by our solutions approach are not limited to newbuilding projects; they can also be delivered through retrofit projects for existing individual vessels or fleets."

Further information for the press:
Ari Viitanen, Director, Customer Solutions, MacGregor Cargo Stowage & Securing, tel: +358 40 827 2769
Esko Karvonen, Vice President, MacGregor Cargo Stowage & Securing, tel: +358 40 763 4596

Further information for investors:
Eeva Sipilä, Executive Vice President, CFO, tel: +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel: +358 20 777 4084

Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com