Sinotruk Hiab (Shandong) Equipment Co., Ltd celebrates the official inauguration today

GlobeNewswire Europe

CARGOTEC CORPORATION, PRESS RELEASE, 8 MAY 2014 AT 1 PM EEST

Sinotruk Hiab (Shandong) Equipment Co., Ltd, which is a joint venture of Cargotec`s business area Hiab and China National Heavy Duty Truck Group Co., Ltd, celebrates today the official inauguration in TaiAn Shandong province in China. Cargotec`s ownership in the joint venture is 50 percent. The joint venture was established in November 2013.

The ceremony is hosted by Cargotec`s Vice Chairman of The Board, Tapio Hakakari and China National Heavy Truck Company`s General Manager Cai Dong. TaiAn City Mayor Mr Wang Yunpeng and his entourage attend the event as guests of honour.

"Sinotruk`s leading position in the Chinese truck market, together with Hiab`s deep knowledge in load handling equipment forms an excellent product and technology match that will offer unique customer advantages. For the first time ever we will be able to deliver dedicated chassis that are designed with integrated cranes ready for lifting purposes," says Cargotec`s Vice Chairman of the Board, Tapio Hakakari.

Sinotruk`s extensive network including dealers and service stations all over in China will be used by the joint venture for the distribution, sales and services of Hiab`s cranes and hooklifts. The joint venture is expected to become a significant player in the loader crane complete vehicle and truck crane business in the future, particularly in China.

For more information please contact:
Gert Larsson, Executive Vice President, Hiab; e-mail gert.larsson@hiab.com
Lotta Clausen, Vice President, Communications, Hiab, tel. +46 372 378 138; e-mail lotta.clausen@hiab.com

Hiab is the world`s leading provider of on-road load handling equipment. Customer satisfaction is the first priority for us. Around 2,700 professionals at Hiab work to provide high-performance products and services that meet customer needs globally. Our product range includes HIAB loader cranes, JONSERED recycling and forestry cranes, LOGLIFT forestry cranes, MOFFETT truck-mounted forklifts and MULTILIFT demountables, as well as DEL, WALTCO and ZEPRO tail lifts. www.hiab.com

Hiab is part of Cargotec. Cargotec`s sales totalled EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec`s class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com




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Source: Cargotec Oyj via GlobeNewswire

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