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2016-05-04

Cargotec Corporation: Cargotec's Kalmar wins its largest ever crane upgrade contract

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 4 MAY 2016 AT 2 PM (EEST)

Kalmar, part of Cargotec, has been awarded the contract to upgrade seven
ship-to-shore (STS) cranes at the Port of Tanjung Pelepas (PTP) in Malaysia.
With a value of more than EUR 20 million, the order is the largest crane
upgrade project to date globally for Kalmar. Site work is scheduled to
commence in the third quarter of 2016.

Malaysia's most advanced container terminal, PTP is located on the Straits of
Malacca, the busiest shipping lane in the world, and has excellent road, rail
and air connections. The terminal had an annual capacity of 9.1 million TEU
in 2015. PTP is equipped with 57 super post-panamax cranes, and a substantial
fleet of Kalmar equipment, including empty container handlers, terminal
tractors and reachstackers, as well as the Navis terminal operating system
(TOS). The upgrade project involves increasing the safe working load of the
seven STS cranes, originally supplied by IMPSA, from 50 to 61 tonnes,
modernising the cranes' control and electrical systems, as well as
introducing a wide range of other safety and capability enhancements. PTP is
part of the MMC Ports group, currently the 8thlargest port operator in the
world by container volume.

Collin Swee
, Key Account Manager for MMC Ports at Kalmar, says: "We're very pleased to
have signed this large order with PTP, which is our biggest contract to date
for crane upgrades. Upgrading the handling capabilities and safety features
of existing cranes is a cost-effective solution for forward-thinking
terminals that are seeking to maximise their capability with existing
equipment. We're proud of our strong track record working with customers all
around the world on complex projects such as these, and are delighted that
PTP has chosen Kalmar to help them realize their goals for future
capability."

The project will be based in the Crane Upgrade competence centre at Port Klang
who conduct crane upgrade projects throughout Asia Pacific for Kalmar's
customers.

Further information for the press:

Anthony Lee, Project Director, Kalmar APAC, tel. +61 407456203

Maija Eklöf, Vice President, Marketing and Communications, Kalmar, tel. +358
20 777 4096,maija.eklof@kalmarglobal.com

Further information for investors:

Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

Cargotec (Nasdaq Helsinki: CGCBV) is a leading provider of cargo and load
handling solutions with the goal of becoming the leader in intelligent cargo
handling. Cargotec's business areas Kalmar, Hiab and MacGregor offer products
and services that ensure our customers a continuous, reliable and sustainable
performance. Cargotec's sales in 2015 totalled approximately EUR 3.7 billion
and it employs almost 11,000 people. www.cargotec.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via Globenewswire

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