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2014-05-20

Cargotec Oyj: Hiab completes employee cooperation negotiations in Hudiksvall, Sweden

CARGOTEC CORPORATION, PRESS RELEASE, 20 MAY 2014 AT 5 PM (EEST)

Hiab, part of Cargotec, has completed employee cooperation negotiations in
Hudiksvall, Sweden. As a result of the negotiations, 134 employees were
affected. In addition, as previously announced, 16 employees will be
transferred to IBE Spectrum AB, to whom Hiab sold its paint shop operation in
Hudiksvall in May.

The restructuring measures are expected to result in annual cost savings of
approximately EUR 11 million with full effect from the year 2016, and
generate restructuring costs of approximately EUR 14 million, of which EUR 12
million will be booked in Cargotec's second quarter financial results.

As announced in February, the focus of the current unit in Hudiksvall will
shift from manufacturing to developing new products and testing products, as
well as after sales and spare parts support. The production responsibility
and the assembly operations for loader cranes, recycling cranes and forestry
cranes will gradually come to an end in Hudiksvall by the first quarter of
2015.

Further information for the press:
Mika Selänne, Vice President, Supply, Hiab; tel. +358207774156,
e-mail:mika.selanne@hiab.com

Lotta Clausen, Vice President, Communications, Hiab, tel. +46372378138,
e-mail:lotta.clausen@hiab.com

Further information for investors:
Paula Liimatta, Director, Investor Relations, tel. +358 20 777
4084,paula.liimatta@cargotec.com

Hiab is the world's leading provider of on-road load handling equipment.
Customer satisfaction is the first priority for us. Around 2,700
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 sales totalled EUR 3.2 billion in 2013
and it employs approximately 11,000 people. Cargotec's class B shares are
quoted on NASDAQ OMX Helsinki under symbol CGCBV.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 Oyj via Globenewswire

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