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Cargotec Oyj (HEL:CGCBV) Cargotec Ends Employee Co-operation Negotiations In Sweden

Cargotec Oyj (HEL:CGCBV) Cargotec Corporation, Press Release, December 12, 2008 at 2.00 p.m. Finnish time

Cargotec has ended the employee co-operation negotiations which were announced and started in Sweden in November. The employee co-operation negotiations resulted in a solution, according to which Cargotec reduces its workforce in Sweden by 332 employees. In addition to ending permament employment contracts, the workforce is reduced by cutting down the number of external employment contracts and by not replacing retiring or resigning employees. The number includes also temporary employment contracts which will not be continued after expiration. These measures were taken to adjust capacity to the prevailing market situation and to increase profitability.

Currently Cargotec employs approximately 2,400 employees in Sweden.

More information for the press:

Pekka Vartiainen, President, Hiab Tel. +358 (0)204 55 4401

Pekka Vauramo, President, Kalmar Tel. +358 (0)204 55 4873
Minna Karhu, Vice President, Corporate Communications, Cargotec Tel. +358 (0)204 55 4630 Mobile +358 (0)40 532 0007

More information for the investors:

Paula Liimatta, IR Manager Tel. +358 (0)204 55 4634

Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales exceed EUR 3 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.

www.cargotec.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Cargotec Oyj

http://www.cargotec.com

ISIN: FI0009013429

Stock Identifier: XHEL.CGCBV

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