Cargotec - Changes board/management/auditors

Cargotec merges Hiab and Kalmar and re-names business areas

CARGOTEC CORPORATION   STOCK EXCHANGE RELEASE   14 AUGUST, 2009 at 2
PM EEST

Cargotec merges Hiab and Kalmar and re-names business areas

Cargotec announced on 22 June 2009 of merging Hiab and Kalmar
business areas. As a result of the merger, Cargotec has now formed
two business areas: Marine, which comprises current MacGregor
business area, and Industrial and Terminal, which comprises current
Hiab and Kalmar business areas. Olli Isotalo continues to head the
Marine business as Executive Vice President. Pekka Vauramo heads the
Industrial and Terminal business as Senior Executive Vice President.

The new Industrial and Terminal organisation includes Product
Solutions with the responsibility of global product offering
competitiveness, Service Solutions with the responsibility of global
service offering competitiveness, and three regional organisations
with the responsibility of sales and service: Americas, Asia-Pacific
and EMEA.

Cargotec has appointed three new members to its Executive Board.

Unto Ahtola (54; B.Sc. Mech. Eng.) has been appointed Executive Vice
President, Product Solutions. Unto Ahtola will join Cargotec from
Sandvik Mining and Construction where he has had a long career in
e.g. product development, product management, sales and marketing and
general management roles since 1982, currently acting as Vice
President, Research & Development and Engineering. His starting date
with Cargotec will be announced later.

Stefan Gleuel (43; M.Sc. Nav. Arch; M.Sc. Mgmt) has been appointed
Executive Vice President, Service Solutions as of 1 October 2009.
Stefan Gleuel has worked for Cargotec for over ten years, currently
as Senior Vice President, MacGregor Service Division.

Ken Loh (45; B.Sc. Mech. Eng.) has been appointed Executive Vice
President, Asia-Pacific as of 1 October 2009. Ken Loh has worked for
Cargotec since 1989, currently as President, Kalmar APAC Region.

Mikael Mäkinen, President and CEO, Cargotec:"These changes in Cargotec management structure are in line with the
objectives of the On the Move change programme - customer focus and
efficiency. We are very pleased to announce Unto Ahtola as head of
Product Solutions.  He has a long and impressive career and track
record with Sandvik, an industry leader in capital equipment and
related services.  His experience in market driven product and
business development will be valuable for Cargotec in future. This
combined with raising the regional organisations to the Executive
Board will increase customer focus in Cargotec management decisions."

The head of the Industrial and Terminal business in Americas will be
appointed in the near future. Industrial and Terminal business in
EMEA has been led by Harald de Graaf since July 1st 2009, as Cargotec
announced previously.

The new organization will be further developed and operational during
the last quarter of 2009.  Until that the current business area
structure will be in place.  External financial reporting will
continue unchanged through 2009.

The appointed persons' photos and CVs are available on Cargotec's web
pages at www.cargotec.com.

More information for the press:
Mikael Mäkinen, President and CEO
tel. +358 (0)204 55 4262

Pekka Vauramo, Senior Executive Vice President
tel. +358 (0)204 55 4873

Minna Karhu, Vice President, Corporate Communications
Tel. +358 (0)204 55 4630
Mobile +358 (0)40 532 0007

More information for the investors:

Eeva Sipilä, CFO, tel. +358 (0)204 55 4281

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