Cargotec has completed cooperation negotiations in

CARGOTEC CORPORATION, PRESS RELEASE, 28 JUNE 2017 AT 9 AM (EEST)

Cargotec has completed cooperation negotiations in Finland

Cargotec has completed employee cooperation negotiations in Finland. As a result of the negotiations, Cargotec has decided to streamline common transactional support processes in Finland. Furthermore, certain Finance, HR, IM and Indirect procurement services of Finland will be provided from the new Cargotec Business Services operations in Sofia, Bulgaria.

The cooperation negotiations started 15 May. The changes will lead to a permanent reduction of  45 positions in Helsinki, Kaarina, Tampere and Raisio, in Finland. The reductions and adjustments will start during this year and they will be completed during 2018, at the latest. Cargotec has approximately 950 employees in Finland.

For further information, please contact: Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4105

Further information for media: Virpi Raski, Corporate Communication Director, tel. +358 40 581 6616

Further information for investors: Pekka Rouhiainen, Investor Relations Manager, tel. +358 40 739 5897

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2016 totalled approximately EUR 3.5 billion and it employs over 11,000 people. www.cargotec.com