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Cargotec Oyj
Type Julkinen osakeyhtiö
Founded 2005
Headquarters Helsinki, Finland
Key people Ilkka Herlin (Chairman)
Mika Vehviläinen (President and CEO)[1]
Industry Industrial machinery, Automotive
Products Marine cargo handling trucks, loader cranes, tail lifts
Operating income 131 MEUR (2012)[2]
Profit 89 MEUR (2012)[2]
Total assets 3,294 MEUR (end 2012)[2]
Total equity 1,232 MEUR (end 2012)[2]
Employees 10,294 (end 2012)[2]
Website http://www.cargotec.com/

Cargotec Oy is a Finnish company that makes cargo-handling machinery for ships, ports, terminals and local distribution. Cargotec was formed in June 2005 when Kone Corporation was split into two companies to be listed: Cargotec and new KONE.[3].

After the split, Kone Corporation’s container handling (Kalmar Industries AB), load handling (HIAB and marine cargo handling (MacGregor) business units formed Cargotec. However, the businesses within Cargotec have much longer histories and have been formed through a series of mergers and acquisitions over several decades.

At the end of 2012, Cargotec had about 10,300 personnel working in over 120 countries.

Cargotec's major shareholders[4] are the heirs of Pekka Herlin, who founded Kone Corporation. Current (since July 12, 2005) Chairman of the Cargotec's Board of Directors is Ilkka Herlin.

Business areasEdit

MacGregor focuses on engineering solutions and services for handling marine cargoes and offshore loads. MacGregor products serve the maritime transportation, offshore and naval logistics markets, in ports and terminals as well as on board ships. MacGregor offering includes hatch covers, cranes, RoRo cargo and passenger access equipment, self-unloading systems, and lashing systems.[5]

Cargotec prepares a separation and possible listing of MacGregor in Singapore. It is estimated that this listing, which is subject to market conditions, will occur at the earliest during the first half of 2014.[6]

Kalmar offers cargo handling solutions and services to ports, terminals, distribution centres and to the heavy industry. Kalmar products include terminal tractors, quay cranes, yard cranes, ASCs, shuttle and straddle carriers, reachstackers and equipment for empty container handling. Kalmar has invested in terminal automation and in energy efficient container handling, with one in four container movements around the globe being handled by a Kalmar solution.[7]

Hiab offers products, service and spare parts for on-road transport and delivery. With Hiab offering, products, equipment and materials can be moved, hoisted, loaded and unloaded. The product portfolio includes Hiab loader cranes, demountables, forestry cranes, recycling cranes, truck-mounted forklifts, and tail lifts. [8]

History Edit

Cargotec was formed in June 2005 when Kone Corporation was split into two companies to be listed: Cargotec and new KONE. After the split, Kone Corporation’s marine cargo handling (MacGregor), container handling (Kalmar Industries AB) and load handling (HIAB and Moffett, the latter being based in Ireland and acquired in 2000) business units formed Cargotec. However, the businesses within Cargotec have much longer histories and they have been formed through a series of mergers and acquisitions during several decades.

MacGregor originates from England where it started to serve shipping companies and shipyards in 1937. The marine cargo business of the company in a broader meaning started in 1983 when MacGregor merged with the Finnish Navire. In 1993 Incentive acquired MacGregor-Navire and merged it with Hägglunds Marine. In 1998, the majority of MacGregor was sold to Industri Kapital. In 2005, Cargotec bought MacGregor International AB, the global marine cargo flow solutions provider, to strengthen the company’s cargo handling offering. Several mergers have taken place since to further strengthen MacGregor.[9] Cargotec prepares a separation and possible listing of MacGregor in Singapore. It is estimated that this listing, which is subject to market conditions, will occur at the earliest during the first half of 2014.[10]

Cargotec's Kalmar business area started to take shape in 1997 when Partek Corporation acquired the Finnish state-owned Sisu Ltd. During the same year, Partek acquired a major shareholding in Kalmar Industries Ltd, a container handling equipment producer.[11] One significant step in 2012 was the introduction of the technology and competence centre in Tampere, Finland, in December. In the centre, Kalmar develops energy-efficient, safe and intelligent machinery and automation solutions.[12]

The foundations of Cargotec’s Hiab business area were laid in 1977 when Partek Corporation bought Multilift Group. In 1985, Partek acquired Hydrauliska Industrier Ltd (Hiab) and Jonsered forestry cranes. A couple of years later Partek strengthened its forestry crane expertise by acquiring that particular business line from Fiskars. Several business acquisitions in 2000 enforced the load handling business. In 2004, the name Hiab was taken into use for the whole load handling business in Cargotec. [13]

Ownership Edit

The major shareholders of Cargotec are Pekka Herlin’s heirs Ilkka Herlin (Wipunen varainhallinta oy), Niklas Herlin (Mariatorp Oy), and Ilona Herlin (D-Sijoitus Oy), each managing over 22 % of votes.[14]

ReferencesEdit

External linksEdit

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