Cargotec signs exclusive marine equipment repair agreement with HEISCO

CARGOTEC CORPORATION, TRADE PRESS RELEASE 23 JULY 2012 AT 10 A.M. EEST

To further strengthen its marine service provision in the Middle East, Cargotec has announced an exclusive marine equipment repair agreement with Heavy Engineering Industries & Shipbuilding Co (HEISCO) in Kuwait

Cargotec has recently signed an exclusive marine equipment repair agreement with the major engineering, procurement and construction contracting company,

"Our main aim will be to provide HEISCO with services related to trouble-shooting, and the survey and repair of all hydraulic and electro-hydraulic equipment," explains Behrooz Boorang, Middle East Regional Sales Manager for Cargotec Marine Service. "This will include pumps, motors, cylinders, winches, power packs, hydraulic valves, deck equipment, steering gear, jacking systems, and cargo control systems. Our personnel will have their own workshop within HEISCO's yard and we will expand this team according to market demand."

Established in 1974, HEISCO has a diverse range of manufacturing and construction activities in the industrial, marine and oil and gas industries. It maintains a highly-skilled workforce that has specialist ship repair and shipbuilding expertise. HEISCO's commitment to customers is proven by its quality management system certification to ISO 9001:2008 and Occupation Health & Safety Management System certification to OHSAS 18001:2007 standards.

For further information, please contact:
Behrooz Boorang, Regional Sales Manager, Middle East, Marine Service, tel: +971 43413933
behrooz.boorang@cargotec.com

or

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

[caption:] Signing the agreement: Samir Hermez, CEO of HEISCO (left) and Darko Bogdanovic, Regional Manager, Middle East, Cargotec Marine Service (right)

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

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 andthe offshore load-handling and naval logistics markets are used on board merchant ships, offshore support vessels, and inports and terminals.