Cargotec - Changes board/management/auditors

Cargotec appoints Eric A. Nielsen to head MacGregor business area as of 16 September 2013

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 13 SEPTEMBER 2013 AT 2.00 PM
(EEST)

Eric A. Nielsen, BSc, Mechanical Engineering, MBA (b. 1959) has been appointed
President of the MacGregor business area as of 16 September 2013. He will be a
member of the Executive Board and reports to President and CEO Mika Vehviläinen.

Eric A. Nielsen has most recently held the position as Executive Vice President
of Corporate Development for Joy Global Inc., a leading supplier of large scale
mining equipment. He was responsible for the company's mergers and acquisitions
and strategic planning activities. Before joining Joy Global Inc., Eric has held
different senior executive positions in Terex Corporation and Volvo Construction
Equipment. During his career in Volvo he steered the significant growth of the
Volvo Excavators business unit, overseeing global marketing, R&D and
manufacturing activities with major operations in Korea, China, Germany and the
United States."MacGregor is heading towards new challenges, and it is time to bring in new
executive management to accelerate the growth and renewal. Eric has a strong
track record within global machinery and engineering as well as in enhancing
performance and growing business. His international background and experience in
Scandinavian and Asian business world demonstrate his excellent capabilities to
respond to changing customer demands," states Cargotec's President and CEO Mika
Vehviläinen."MacGregor is a market leader in marine business and has a determined focus to
proactively respond to the needs and expectations of the customers. I am very
excited to join the MacGregor team and work together with the talented and
dedicated members of our global organisation. I strongly believe that there are
opportunities and new innovations that will take our performance to even higher
level," says Eric A. Nielsen."Mikael Mäkinen has headed the preparations to list MacGregor to the Singapore
stock exchange and to drive the consolidation of the industry, and he has
succeeded well in executing these plans. As per his own decision not to move to
Singapore, as the listing would require, Mikael will leave his current position
as President of MacGregor on 15 September. He will report to the new President
during the transition period. The Board of Directors and I thank Mikael for his
dedication in developing Cargotec and its business areas into global market
leaders. We all wish him every success in the future," says Mika Vehviläinen.

Eric A. Nielsen's CV and hires image are attached.


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:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104

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

[HUG#1729097]

Attachments:

Eric A. Nielsen, CV.pdf

Eric A. Nielsen, image (hires).JPG