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2016-02-17

Cargotec Corporation: Exploring the next generation load handling equipment - results of Hiab's iLoad project

CARGOTEC CORPORATION, PRESS RELEASE, 17 FEBRUARY 2016 AT 10 AM EET
Hiab, part of Cargotec, reports on the results of the iLoad project, which received EUR1.4 million funding from the EU's Industrial and Academy Partnerships. The two main outcomes of the project are Model Based Design and light weight design.
In 2013, Hiab started a research cooperation project iLoad together with two Polish university partners: West Pomeranian University of Technology and the Silesian University of Technology. During the project, the focus has been in developing the control systems of the future load handling, as well as exploring new materials and joining techniques. The project underpins Hiab's commitment to remain the clear technological leader by championing forward-thinking and innovative product development.
"Project like this was not about improving existing products. It was about finding a completely new way to our existing products and techniques," saysRafal Sornek
, Hiab's Vice President for Technology and Quality Development. "We are happy to announce that as results of the project we introduced Model Based Design to our control system development and explored new approach to light weight design."
"The iLoad project produced significant advantages, particularly when compared to the more traditional method of outsourcing the 'innovation race'. Networking with external partners and working towards common goals allowed us to create really valuable ideas and quickly adopt them for practice," he continues.
During this year, Hiab will launch the first new products developed using Model Based Design. In the long term, we strongly believe that this methodology will help shorten development time and respond swiftly to customer's future needs.
"We also continue the research on light weight structures, moving from laboratory testing into field tests of first components. Great results shown in research project pose our organisation a new challenge, because they require a completely new approach to the design of structures. But as a technology leader, we gladly accept this challenge," Sornek concludes.

For more information, please contact:

Rafal Sornek, Vice President for Technology and Quality Development, Hiab; tel. +48668502453, rafal.sornek@hiab.com
Lotta Clausen, Vice President, Communications, Hiab; tel. +46705535138, lotta.clausen@hiab.com

Hiab is the world's leading provider of on-road load handling equipment. Customer satisfaction is the first priority for us. Around 2,800 professionals at Hiab work to provide high-performance products and services that meet customer needs globally. Our product range includes HIAB loader cranes, JONSERED recycling and forestry cranes, LOGLIFT forestry cranes, MOFFETT truck-mounted forklifts and MULTILIFT demountables, as well as DEL, WALTCO and ZEPRO tail lifts. www.hiab.com
Hiab is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2015 totalled approximately EUR 3.7 billion and it employs almost 11,000 people. www.cargotec.com

Photo: HIAB crane
http://hugin.info/135578/R/1986702/728983.jpg
Photo: iLoad official logo
http://hugin.info/135578/R/1986702/728984.jpg

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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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