Cargotec - Company Announcement

Cargotec Board of Directors' organising meeting

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 8 MARCH 2011 AT 3:30 PM EET


Cargotec Corporation's Board of Directors elected by the Annual General Meeting
has in its organising meeting elected Ilkka Herlin to continue as Chairman of
the Board. Tapio Hakakari was elected as Vice Chairman.

The Board of Directors considers all members to be independent of the company
and all except Ilkka Herlin and Peter Immonen to be independent of major
shareholders.

The Board decided that the members are to keep the Cargotec shares they have
obtained in remuneration under their ownership for at least two years from the
day they obtained them. The shares will be purchased at market price on a
quarterly basis.

The Board decided that the matters to be handled by the Board will be prepared
by two committees: the Audit and Risk Management Committee (former Audit
Committee) and the Nomination and Compensation Committee.

The Board of Directors elected among its members Ilkka Herlin, Karri Kaitue,
Anja Silvennoinen and Teuvo Salminen as members of the Audit and Risk Management
Committee. Teuvo Salminen was elected as Chairman of the committee. The Board
considers that the membership of Ilkka Herlin, as a significant shareholder, in
the committee is warranted.
Board members Tapio Hakakari, Ilkka Herlin, Peter Immonen and Antti Lagerroos
were re-elected to the Nomination and Compensation Committee. Ilkka Herlin was
re-elected as chairman of the committee.

Outi Aaltonen, Senior Vice President, General Counsel, will continue as
Secretary to the Board.

For further information please contact:
Outi Aaltonen, Senior Vice President, General Counsel, Secretary of the Board,
tel. +358 204 55 4249
Eeva Sipilä, CFO, tel. +358 204 55 4281
Anne Westersund, Vice President, Communications and Marketing, tel.
+358 204 55 4460


Cargotec improves the efficiency of cargo flows on land and at sea - wherever
cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are
recognised leaders in cargo and load handling solutions around the world.
Cargotec's global network is positioned close to customers and offers extensive
services that ensure the continuous, reliable and sustainable performance of
equipment. Cargotec's sales totalled EUR 2.6 billion in 2010 and it employs
approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX
Helsinki under symbol CGCBV. www.cargotec.com

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