Cargotec

Cargotec CEO Mika Vehviläinen has informed Cargotec’s board of directors of his intention to retire from Cargotec during 2023, in accordance with the terms of his CEO service contract. The board has initiated a search for a successor. “It has been both a privilege and a pleasure to lead the transformation of Cargotec together with […]

Cargotec has completed the strategic evaluation of MacGregor. Based on the evaluation, Cargotec’s board of directors has concluded that MacGregor will not be part of Cargotec’s portfolio in the future. Cargotec will focus on profitable growth of its core businesses, Hiab and Kalmar, by solving customers’ sustainability challenges. During the strategic evaluation, it became clear […]

Cargotec’s interim report from July to September 2022 showed an all time high comparable operating profit and increased orders in all business areas. The company anticipates that supply chain challenges and market uncertainties will continue. Orders received increased by 16% and totalled 1147 million euros and the order book amounted to 3732 million euros at […]

Kalmar, part of Cargotec, will be upgrading and expanding its manufacturing plant in Ottawa, Kansas, home to the company’s terminal tractor manufacturing operations in North America. The investment, worth close to EUR20 million, will eventually enable the plant’s annual production capacity to be doubled, making it the largest terminal tractor manufacturing facility in North America. […]

The UK Competition & Markets Authority (CMA) has blocked the merger between Konecranes and Cargotec. According to the CMA’s final report issued today, the remedies – which would have removed all overlapping businesses of the two companies and were accepted by the European Commission (EC) – would not be effective in addressing the CMA’s concerns […]

The European Commission has conditionally approved the planned merger between Cargotec and Konecranes. The approval, which follows the Commission’s extensive investigation and widespread consultation with market participants across Europe, is conditional on the divestment of Konecranes’ Lift Truck business and Cargotec’s Kalmar Automation Solutions.  Konecranes’ Lift Truck business includes its business for the manufacturing and […]

Cargotec and Konecranes have continued their dialogue and cooperation with relevant competition authorities to find satisfactory ways to mitigate concerns raised by the competition authorities to secure approvals to complete the merger of Cargotec and Konecranes. Based on ongoing dialogue with the authorities the remedy requirements are more complex than expected. Cargotec and Konecranes have […]

Kalmar, part of Cargotec, has signed a joint development agreement with Coast Autonomous Inc to speed up the development and launch of robotic solutions across its mobile equipment offering.  To emphasise the common long-term interests of the partnership between the companies, Kalmar has become a minority shareholder of Coast Autonomous. The joint development agreement and […]

Konecranes and Cargotec have submitted commitments to the European Commission to satisfy competition concerns related to the companies’ merger. Konecranes and Cargotec have continued an active dialogue and cooperation with the relevant competition authorities and have been considering ways to mitigate the concerns raised by the competition authorities to secure approvals to complete their merger. […]

Konecranes president and CEO Rob Smith has decided to leave the company. He will leave Konecranes on 31 December 2021. The company’s CFO, Teo Ottola, who also serves as deputy CEO, will be acting as the interim CEO from 1 January 2022 until the completion of the planned merger between Konecranes and Cargotec Corporation (the […]