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Cargotec Oyj Press Release, June 17, 2008 at 1:45 p.m. Finnish time
Cargotec's Hiab business area providing load handling solutions has concluded an agreement to acquire the business of Zepro Tailgate (1987) Limited, Hiab's long term distributor for tail lifts in New Zealand. Zepro Tailgate (1987) Limited is the dominant supplier of tailgates in New Zealand. In addition to tailgate sales the business comprises of installation, repairs and maintenance and spare part sales.
The business will be transferred into newly established Hiab New Zealand Limited, which will operate from Auckland and Christchurch. As of July 1, 2008 Hiab New Zealand Limited will sell and provide related service to all Hiab products, including cranes, demountables, truck-mounted forklifts and tail lifts.
The acquisition supports Hiab's strategy of being closer to the customer around the world.
Sender : Cargotec Corporation
Eeva Mäkelä CFO
For further information, please contact: Harold Koh, President, Asia Pacific Region, Hiab Pte Ltd, tel. +65 68653938 Minna Karhu, Vice President, Corporate Communications, tel. +358 204 55 4630
Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales are EUR 3 billion and the company employs over 11,000 people. Cargotec's class B shares are quoted on the OMX Nordic Exchange Helsinki.
