CARGOTEC CORPORATION, PRESS RELEASE, 24 SEPTEMBER 2014 AT 5 PM (EEST)
Hiab, part of Cargotec, and Gavelås Förvaltning AB have signed an agreement regarding a long-term distribution partnership in the Middle East region. As a part of the transaction Hiab will sell its current sales company Hiab Middle East LLC, which employs 19 persons. The parties have agreed not to disclose the value of the transaction which occurs on 24 September 2014.
The transaction supports the implementation of the strategic business targets of Hiab to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.
Carl Gustaf Göransson, Senior Vice President, Sales and Markets at Hiab, says: "By developing a long-term relationship with committed and experienced partners Hiab is able to grow its presence and customer service in an important market. Partnering with strong distributor partners in key markets is one of the corner stones in growing our business successfully."
The managing director of Gavelås Förvaltning AB, Mr. Greger Jacobson has earlier been working within Cargotec for ten years, his last position being within the Hiab Sales and Markets organisation as responsible for sales in the Middle East region. His and the Middle East team's extensive product and service knowledge together with established close relations with customers over the past years across the Middle East region will provide an excellent platform to expand Hiab's customer base.
"I'm really looking forward to this opportunity as well as working with the dedicated and skilled team that we have in Middle East. We will further strengthen our local presence and are dedicated to continue the growth of the Hiab business in the area, providing excellent service and support to our customers and partners", says Greger Jacobson.
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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