Employee cooperation negotiations end in Finland

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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