Cargotec plans to re-organise operations at the acquired maritime software company INTERSCHALT

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CARGOTEC CORPORATION, PRESS RELEASE, 23 SEPTEMBER 2016 AT 2 PM (EEST)

Cargotec plans to re-organise operations at the acquired maritime software company INTERSCHALT

Cargotec plans to re-organise operations at the maritime software company INTERSCHALT. The re-organisation is estimated to affect INTERSCHALT personnel in Germany, USA (Houston) and China (Shanghai). It is estimated that some INTERSCHALT's production and design work will be discontinued or outsourced and some INTERSCHALT locations will be closed.

Cooperation negotiations have started at INTERSCHALT and they will affect tens of employees. INTERSCHALT employs at the moment 223 persons. Some employees will be offered a transfer to another location within Kalmar or MacGregor. The aim is to finalize negotiations by the end of 2016 and the resulting changes will be completed during 2017. The savings resulting of these activities are expected to amount to approximately EUR two million annually from 2017 onwards.

Cargotec's acquisition of INTERSCHALT was announced in January 2016 and it was completed in March 2016. Since then, the INTERSCHALT software business has been consolidated into Kalmar's software business unit Navis and INTERSCHALT services business has been consolidated into MacGregor business area.

Synergies and overlapping activities have been further investigated in the context of the business environment. "In order to maintain profitability and to ensure effective and consistent operational processes, consolidation is needed in terms of locations, personnel and product portfolio," says Patrik Sjöblom from Kalmar finance.

"We understand that this is challenging times for INTERSCHALT's personnel. However, we must make sure that we continue to sustain our leading position also in the future by being able to invest in product development," Patrik Sjöblom continues.

For more information, please contact:

Patrik Sjöblom, Vice President, Finance, Kalmar

Tel: +358 20777 4000, patrik.sjoblom@kalmarglobal.com

John Carnall, Global Lifecycle Services Division, MacGregor

Tel: +44 (0)191 295 2177, john.carnall@macgregor.com

Leena Lie, Senior Vice President, Communications and Investor Relations, Cargotec Corporation

Tel +358 20 777 4483, leena.lie@cargotec.com

Cargotec (Nasdaq Helsinki: CGCBV) is a leading provider of cargo and load handling solutions with the goal of becoming the leader in intelligent cargo handling. Cargotec's business areas Kalmar, Hiab and MacGregor offer products and services that ensure our customers a continuous, reliable and sustainable performance. Cargotec's sales in 2015 totalled approximately EUR 3.7 billion and it employs over 11,000 people. www.cargotec.com

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via Globenewswire

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