Cargotec - Company Announcement

Cargotec to book additional restructuring charges from Hiab and Kalmar merger of MEUR 20 resulting in operating loss for 2009

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 6 OCTOBER, 2009 at 1 PM
EEST

Cargotec to book additional restructuring charges from Hiab and
Kalmar merger of MEUR 20 resulting in operating loss for 2009

Cargotec announced on 22 June 2009 the plans to merge Hiab and Kalmar
business areas into a new Industrial and Terminal business area in
order to increase efficiency and customer focus. The merger work has
proceeded to the Hiab and Kalmar organisations, which develop the
product and service offering as well as Americas and Asia-Pacific
sales and service regions.

Additional restructuring charges of approximately EUR 20 million are
estimated to be booked in 2009. This implies that Cargotec's earlier
guidance of 2009 operating result being slightly positive including
approximately EUR 50 million of restructuring costs is lowered. The
additional restructuring charge implies that operating result
including a full year total of approximately EUR 70 million
restructuring charges will be negative for 2009.

The planned reorganisation and capacity adjustment measures are
estimated to have an effect of further reducing some 500 employees
globally. The already completed and today announced plans including
structural capacity adjustment measures are estimated to create total
annual savings exceeding EUR 150 million. The savings estimate
includes all cost structure streamlining actions announced since the
beginning of 2008.

The new business area Industrial and Terminal became operational on 1
October 2009, and the existing Hiab and Kalmar organisations continue
until the year end to secure a smooth transition. The new
organisation has an empowered frontline, wider management spans and a
flat organisation structure to further increase the customer focus
and support Cargotec's initiatives in building a more unified
company.

The possible measures for the personnel reductions will be initiated
locally in employee cooperation procedures in each country. The major
countries affected by the today announced plans are Finland with an
estimated impact of 180 persons and Sweden with an estimated impact
of 130 persons. Cargotec employs today approximately 1,500 people in
Finland and 2,000  in Sweden.

Further information for the press:

Mikael Mäkinen, President and CEO
Tel. +358 (0)204 55 4262

Pekka Vauramo, Senior Executive Vice President and Deputy to CEO
Tel. +358 (0)204 55 4873

Minna Karhu, Vice President, Corporate Communications
Tel. +358 (0)204 55 4630

Further information for the investors:

Eeva Sipilä, 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 solutions
for the loading and unloading of goods on land and at sea - wherever
cargo is on the move. Cargotec's main daughter brands for cargo
handling Hiab, Kalmar and MacGregor are global market leaders in
their fields. Cargotec's global network offers extensive services
that ensure the continuous, reliable and sustainable performance of
equipment. Cargotec's sales totalled EUR 3.4 billion in 2008 and it
employs approximately 11,000 people. Cargotec's class B shares are
quoted on the NASDAQ OMX Helsinki. www.cargotec.com