Cargotec Corporation, Press Release, January 30, 2007 at 8:30 a.m. Finnish time
Cargotec Strengthens its Presence in Australia
Hiab, the business area providing load handling solutions within Cargotec, has
made an agreement to acquire the majority of its Australian importer BG Crane
Pty. Ltd., a leading distributor and service provider for load handling customers
in Australia. Hiab owned previously 30 percent of BG Crane. The parties have
agreed not to disclose the transaction value. The current main owner, Bob Davis,
continues as Managing Director.
BG Crane has a strong customer base in the on-road load handling and related
installation and service businesses. The company distributes Hiab's products as
well as other products. The company employs some 100 people in its six branches
in Australia and had net sales of approximately EUR 20 million in 2006.
"BG Crane has been a strong partner for Hiab in Australia for many years. This
acquisition supports our strategy of being close to our customers all around the
world offering both equipment and related services. It significantly strengthens
our position and future opportunities in the area," states Hiab's President Pekka
Vartiainen.
Sender:
Cargotec Corporation
Kari Heinistö Eeva Mäkelä
Senior Executive Vice President and CFO SVP, Investor Relations and
Communications
For further information, please contact:
Pekka Vartiainen, President, Hiab, tel. +358 204 55 4264
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo handling solutions,
which are used in local transportation, terminals, ports, distribution centers,
and ships. Cargotec's operations are divided into three strong, global business
areas: Hiab, Kalmar, and MacGREGOR, each of which is the market leader in its own
segment. In 2005 Cargotec's net sales exceeded EUR 2.3 billion. The company
employs some 8,000 people and has activities in more than 160 countries.
Cargotec's class B shares are listed on the Helsinki Stock Exchange.
www.cargotec.com