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Cargotec Acquires a Service Company in U.S.A.


July 13, 2007 at 2:00 p.m. Finnish time

Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement to acquire a service company in Tampa, Florida, U.S.A. Bay Equipment Repairs Inc. is a long-term service partner of Hiab and it offers shop and mobile services in Florida to a variety of customers, most of which are Hiab customers.

Bay Equipment Repairs had sales of approximately EUR 1 million in 2006 and the company employs 13 persons. Bay Equipment Repairs will be integrated to Hiab’s US service organization and it further strengthens Hiab’s service coverage in the important Florida market area.

Kari Heinistö
Senior Executive Vice President and CFO

Eeva Mäkelä
SVP, Investor Relations and Communications

Cargotec is the world’s leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation’s brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec’s net sales are EUR 2.7 billion. The company employs over 9,000 people and operates in close to 160 countries. Cargotec’s class B shares are quoted on the Helsinki Stock Exchange.


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