CARGOTEC CORPORATION, TRADE PRESS RELEASE 18 MAY 2011 AT 1 PM EEST

Order for MacGregor offshore cranes raises Cargotec's stake in sustainable energy production

Cargotec is supplying two MacGregor offshore deck cranes for installation on an offshore converter platform, BorWin beta, which will feed 800MW of renewable energy generated by two offshore windfarms into the German electricity grid. The power converter will begin test operation at the end of 2012.

The MacGregor luffing cranes have an SWL of 10 tonne at 41m outreach and will be used to offload supply vessels, handle materials on BorWin beta's open deck areas and lower them to the decks below via hatches. They are also 'man-riding approved'. The platform will be positioned about 125km from the German coast, and the cranes are designed to withstand harsh North Sea conditions.

BorWin beta is one of several offshore platforms to be installed in a windmill park maintained by Siemens. The platform is being built by Nordic Yards Wismar and will be owned by transmission system operator TenneT.

Jon Helle, Sales Director, Subsea Load Handling, says: "This is an important order for Cargotec as it reflects our commitment to servicing the renewable energy industry. We are part of this industry, and we are strengthening our position. Sustainability is one of Cargotec's core values, and we are pleased to be increasing our involvement in the production of clean electrical energy."

The contract also reinforces Cargotec's connections with Siemens in the sustainable energy sector. In March, Cargotec entered into a long-term frame agreement with Siemens Wind Power to supply custom-made Hiab cranes for service and maintenance of Siemens wind turbines. The agreement was the result of a fruitful long-term cooperation between Cargotec and Siemens Wind Power.

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For further information, please contact:
Jon Helle, Sales Director, Subsea Load Handling, tel. + tel. +47 913 56 209  
Email: jon.helle@cargotec.com

or

Heli Malkavaara, Communications Director, Marine tel. +358 2 4121 252
Email: heli.malkavaara@cargotec.com

Notes to editors

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

MacGregor is the global market-leading brand in marine cargo handling and offshore load-handling solutions. Customer-driven MacGregor engineering and service solutions for the maritime transportation industry and  the offshore load-handling and naval logistics markets are used onboard merchant ships, offshore support vessels, and in ports and terminals. www.macgregor-group.com