CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 26 AUGUST 2015 AT 9.30 AM EEST
Cargotec's Hiab receives a significant order for over 1,200 HIAB loader cranes from Tata Motors India
Hiab, part of Cargotec, has received a significant order for over 1,200 HIAB loader cranes from Tata Motors, the largest Indian automobile company. The deliveries will start in late 2015, with the contract due for completion by the end of 2016.
The contract follows a tender that was initiated by Indian army in 2009 to the truck companies. Tata was one of the five bidders, and bagged the order for over 1,200 army trucks together with 8 tm HIAB 088 loader cranes. The trucks as well as the cranes had to undergo extensive tests and trials in various environmental conditions for a number of years after which Tata and Hiab emerged as winners.
Mr. S. Srinivas, Hiab GBO India says: "Hiab has been working a long time with this Indian Army project and we are delighted that the HIAB cranes were chosen after having undergone stringent testing".
The HIAB 088 series are designed for rough operations and the cranes that will be delivered for Tata Motors were adapted to meet Army's requirements. The trucks and cranes will be used for transportation and loading-unloading of pallets, spares and other operational equipment.
More information for media:
Ismo Leppänen, Hiab Government Business Operations;
tel. +44 7785 307457
Lotta Clausen, Vice President, Communications, Hiab; tel. +46 7055 35138
More information for investors:
Eeva Sipilä, Executive Vice President and CFO, tel. +358 20 777 4104
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
Cargotec shapes the cargo handling industry for the benefit of its customers and shareholders. Cargotec's business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Their global network is positioned close to customers and offers extensive services that ensure a continuous, reliable and sustainable performance according to customers' needs. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com