2009-11-23 13:04:04 -

London, November , 23, 2009

CARGOTEC CORPORATION, PRESS RELEASE, 23 NOVEMBER 2009 AT 2 P.M. EET

Employee cooperation negotiations end in Finland

Cargotec has completed cooperation negotiations regarding temporary
layoffs and redundancies in Finland on 23 November 2009. The
negotiations resulted in permanent reduction of 168 employees in
Finland, of whom 97 persons will be affected by an actual lay-off in
Tampere unit. In addition, temporary lay-offs in the Tampere unit
continue.

These measures are part of the plan to merge Hiab and Kalmar business
areas and to adjust to the market situation. Cargotec employs
approximately 1,300 people in Finland.


Further information for the press:

Matti Sommarberg, Chief Technology Officer and Country Manager,
Finland
Tel. +358 (0)3 265 8240

Minna Karhu, Vice President, Corporate Communications
Tel. +358 (0)204 55 4630

Further information for investors:

Paula Liimatta, IR Manager
Tel. +358 (0)204 55 4634


Cargotec improves the efficiency of cargo flows by offering solutions
for the loading and unloading of goods on land and at sea - wherever
cargo is on the move. Cargotec's main daughter brands for cargo
handling Hiab, Kalmar and MacGregor are global market leaders in
their fields. Cargotec's global network offers extensive services
that ensure the continuous, reliable and sustainable performance of
equipment. Cargotec's sales totalled EUR 3.4 billion in 2008 and it
employs approximately 10 500 people. Cargotec's class B shares are
quoted on the NASDAQ OMX Helsinki. www.cargotec.com


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