CARGOTEC CORPORATION, PRESS RELEASE, 22 AUGUST 2013 AT 8.00 A.M. (EEST)
Kalmar RTG production to be relocated from Shanghai multi-assembly unit to joint venture Rainbow-Cargotec Industries (RCI)
Kalmar, part of Cargotec, will relocate the production of rubber-tyred gantry cranes (RTGs) from Cargotec Industries (China) Co., Ltd., (CICL) Shanghai multi-assembly unit (MAU) to Rainbow-Cargotec Industries (RCI).
This measure is a continuation of the process started in July 2011, when Cargotec announced plans to establish a joint venture with its long-time partner in China, Jiangsu Rainbow Heavy Industries. The RCI joint venture is now fully operational and has shipped the first RTG cranes from its new state-of-the-art facility in Taicang, Jiangsu province. RCI employs approximately 280 people.
By taking measures to create a cost-efficient product and production set-up for the future, Kalmar also wants to ensure the long-term competitiveness of its RTG business globally.
The RTG production relocation is planned to be completed by the end of September 2013. Based on the current estimate, this would affect 105 positions in Cargotec Industries (China) Co., Ltd./MAU Shanghai.
Further information for the press:
Olli Isotalo, President, Kalmar, tel. +358 20 777 4111
Maija Eklöf, Vice President, Communications, Kalmar, tel. +358 20 777 4096, email@example.com
Further information for investors:
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084
Kalmar offers the widest range of cargo handling solutions and services to ports, terminals, distribution centres and to heavy industry. Kalmar is the industry forerunner in terminal automation and in energy efficient container handling, with one in four container movements around the globe being handled by a Kalmar solution. Through its extensive product portfolio, global service network and ability to enable a seamless integration of different terminal processes, Kalmar improves the efficiency of every move. www.kalmarglobal.com
Kalmar is part of Cargotec. Cargotec's sales totalled EUR 3.3 billion in 2012 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com