Cargotec - Company Announcement

Cargotec has established a joint venture with China National Heavy Duty Truck Group Co., Ltd. to strengthen presence in China

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 2 DECEMBER 2013 AT 10:00 EET

After receiving regulatory approvals, Cargotec has established Sinotruk
(Shandong) Hiab Equipment Company Ltd., a joint venture with China National
Heavy Duty Truck Group Co., Ltd. (CNHTC), in China. Cargotec's ownership in the
joint venture is 50 percent. The plans for the joint venture were published in
July 2012. Cargotec's estimated equity investment in the joint venture during
the first operational year is, as earlier announced,  approximately EUR 10
million.

CNHTC is a leading Chinese manufacturer of heavy duty trucks and the parent
company of Sinotruk. CNHTC's extensive network, including dealers and service
stations all over China, will be used by the joint venture for the distribution,
sales and services of Hiab's cranes and hooklifts.

The joint venture will also further develop CNHTC's existing truck crane
offering and production base for the Chinese market. By combining both
companies' technical know-how, the joint venture is expected to become a
significant player in the truck crane business in the near future, particularly
in China.

Further information for the press:
Mika Vehviläinen, President and CEO, tel. +358 20 777 4101
Anne Westersund, Senior Vice President, Communications and Public Affairs; tel +
358 20 777 4460

Further information for investors:
Paula Liimatta, Investor Relations Director, tel. +358 20 777 4084

Cargotec improves the efficiency of cargo flows on land and at sea - wherever
cargo is on the move. Cargotec's brands MacGregor, Kalmar and Hiab 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 3.3 billion in 2012 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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