Cargotec has sold Waltco Hydraulics to Ligon Industries

Cargotec has sold its US-based hydraulic cylinders manufacturing business Waltco Hydraulics to Ligon Industries, LLC. The parties have agreed not to disclose the transaction value. Waltco Hydraulics, situated in Ohio, was part of Waltco Lift Corp., belonging to the Tail Lift (liftgate) division within Industrial and Terminal business area at Cargotec.

Michael Militello President of Waltco Lift Corp:
“Ligon Industries is a long time supplier to Cargotec. Based on our earlier experience of sourcing cylinders from Ligon, we trust Ligon as a reliable and high-quality producer whom we continue to count on as a supplier. In 2008 Waltco Hydraulics delivered approximately one third of its volume to Cargotec’s businesses and the rest to external customers.”

This divestment is aligned with Cargotec’s global supply strategy which emphasizes an assembly-focused product supply set-up close to customers.

Cargotec improves the efficiency of cargo flows by offering solutions for the loading and unloading of goods on land and at sea – wherever cargo is on the move. Cargotec’s main daughter brands for cargo handling Hiab, Kalmar and MacGregor are global market leaders in their fields. Cargotec’s global network offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totalled EUR 3.4 billion in 2008 and it employs approximately 10,500 people. Cargotec’s class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com