Cargotec invests in its North African sales and service network
(Thomson Reuters ONE) - CARGOTEC CORPORATION, PRESS RELEASE, 11 DECEMBER 2009 AT 3 PM EETCargotec invests in its North African sales and service networkCargotec strengthens its sales and service activities in Morocco byacquiring the port service and equipment related part of MaghrepicS.A. business operations. Maghrepic has been Cargotec's dealerrepresentative in Morocco with a long experience in service and spareparts. According to the deal, Cargotec will employ 44 persons, mostof whom are service technicians. The acquisition supports Cargotec'saim to grow sales and service activities in Morocco.The sales of the acquired business in 2010 are estimated to be aroundEUR 6 million. According to the agreement, El Mati Alem, Maghrepic'sfounder and president, will continue to own and manage the company'sbusiness activities which were not acquired by Cargotec. The partieshave agreed not to disclose the purchase price."Global port operators and shipping companies have started to investin Moroccan ports as well as strategically placed greenfieldfacilities as the country is located at the crossroads of importantsea routes and the gateway between Africa and Europe. Cargotec hasdelivered Morocco Kalmar rubber-tyred gantry cranes as well as wonmaintenance contracts for container handling equipment. A localset-up will further support Cargotec's ability to serve its customersin the region and act as a springboard for additional business growthin the North Africa", says Mark Williamson, Senior Vice President,Services, EMEA.Further information for the press:Mark Williamson, Senior Vice President, Services, EMEA, tel. +31 (0)10 294 6693Minna Karhu, Vice President, Communications, tel. +358 (0) 204 554630Further information for investors:Paula Liimatta, Investor Relations Manager, tel. +358 (0) 204 55 4634Cargotec improves the efficiency of cargo flows by offering solutionsfor the loading and unloading of goods on land and at sea - wherevercargo is on the move. Cargotec's main daughter brands for cargohandling Hiab, Kalmar and MacGregor are global market leaders intheir fields. Cargotec's global network offers extensive servicesthat ensure the continuous, reliable and sustainable performance ofequipment. Cargotec's sales totalled EUR 3.4 billion in 2008 and itemploys approximately 10,500 people. Cargotec's class B shares arequoted on the NASDAQ OMX Helsinki. www.cargotec.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.12.2009 - 14:00 Uhr
Sprache: Deutsch
News-ID 9531
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