Cargotec - Company Announcement

Cargotec Reduces Full Year Guidance and Restructures Operations

Cargotec Corporation, Stock Exchange Release, September 18, 2008 at
10:00 a.m. Finnish time

Cargotec reduces its full year profitability guidance given in July.
Full year 2008 operating margin is expected to be lower than previous
year's 7.3% margin from operations. Earlier Cargotec guided for below
8% but higher than 7.3% operating margin for full year 2008. Order
intake has continued strong in Kalmar and MacGREGOR. Cargotec's
expectation for 2008 sales growth remains unchanged with growth
weighted on the fourth quarter.

Due to a weakened market situation in Europe and US Hiab's order
intake is estimated to be lower than expected, mainly in construction
related customer segments. This will affect negatively the
utilization rate of the factories and profitability in the second
half of the year. Hiab's profitability during the rest of the year
will also be weakened by a slower and more expensive than expected
start-up of the component factory in Narva, Estonia. Kalmar will, in
the third quarter, book a EUR 5 million provision related to cost
overruns in ship-to-shore crane orders received in year 2006 and
2007.

Hiab's operating margin in the second half of the year is expected to
be weaker than in the first half. Kalmar's and MacGREGOR's full year
operating margins are still expected to improve from the previous
year. Due to the delivery schedules, the improvement will be weighted
on the fourth quarter.

As a result of weaker profitability, Cargotec will initiate
restructuring measures mainly in mature markets. The measures are
estimated to affect some 700 people. The measures will aim to improve
Hiab's and Kalmar's profitability and to adjust capacity in Hiab to
the prevailing market situation. More information about the measures
and their cost impact in Hiab's and Kalmar's results stated above
will be communicated by the end of October. Cargotec continues,
according to earlier announcements, the On the Move change programme
aiming at developing the way of working and the global supply
footprint. The actions target to achieve Cargotec's profitability
target by 2011.

Sender:
Cargotec Corporation
Eeva Sipilä
CFO

Further information:
Mikael Mäkinen, President and CEO, tel. +358 (0)204 55 4262
Eeva Sipilä (formerly Mäkelä), CFO, tel. +358 (0)204 55 4281
Paula Liimatta, IR Manager, tel. +358 (0)204 55 4634

Cargotec improves the efficiency of cargo flows by offering handling
systems and the related services for the loading and unloading of
goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global
market leaders in their fields and their solutions are used on land
and at sea - wherever cargo is on the move. Extensive services close
to customers ensure the continuous usability of equipment. Cargotec
is the technology leader in its field, its R&D focusing on innovative
solutions that take environmental considerations into account.
Cargotec's sales exceed EUR 3 billion and the company employs
approximately 12,000 people. Cargotec's class B shares are quoted on
the OMX Nordic Exchange Helsinki.
www.cargotec.com