CARGOTEC CORPORATION, PRESS RELEASE, 15 NOVEMBER 2010 AT 10 AM (EET)
Cargotec has acquired the assets of a Swedish installation and service company Hallberg-Ivarsson Hydraulik & Påbyggnad AB. This acquisition is fully in line with Cargotec's strategy to move closer to its customers and invest in services.
Hallberg-Ivarsson Hydraulik & Påbyggnad AB, located in Gothenburg, Sweden, and owned by its Managing Director Jan Hallberg, is specialised in installation and services of on-road load handling equipment and heavy vehicles. The company has been a long-term installation and service provider for Cargotec's Hiab load handling equipment in the region. It employs three full-time and 2-3 temporary employees.
The transaction will be effective as of 1 January 2011 and includes the takeover of the company's business assets, customer contacts and employees. The business will be integrated into Cargotec's operations in Sweden. The parties have agreed not to disclose the transaction value.
In connection with the acquisition, the Hallberg-Ivarsson service and installation business will be moving to a new location and under the same roof with Cargotec's Service Centre for Kalmar and MacGregor solutions in Gothenburg. Managing Director Jan Hallberg will continue as head of the on-road load handling service team.
"Hallberg-Ivarsson has been a valued partner and service provider for Hiab products in the Gothenburg area. Through this acquisition we will move closer to customers and strengthen our position as a full-service provider. Our plan is to put even more resources into our Service Centre in Gothenburg, which will be the first one-stop service shop providing installations, repairs, maintenance and spare parts for cargo and load handling solutions in Sweden," says Leif Wallin, Area Director, North Europe, Cargotec.
"Joining forces with Cargotec offers better opportunities for growth and improved resources in sales, installation and services. This is something that our customers will clearly benefit from," says Jan Hallberg, Managing Director and owner of Hallberg-Ivarsson Hydraulik & Påbyggnad AB.
Further information for the press:
Leif Wallin, Area Director, North Europe, tel. +46 76 805 41 07
Anne Westersund, Vice President, Communications and Marketing, tel. +358 20 455 4460
Further information for investors:
Paula Liimatta, Investor Relations Manager, tel. +358 20 455 4634
Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2009 and it employs approximately 9,800 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com