Demerger

The completion of the partial demerger of Cargotec Corporation and the incorporation of a new Kalmar Corporation was registered in the Finnish Trade Register on 30 June 2024.

On 27 April 2023, Cargotec's Board of Directors decided to investigate and initiate a process to potentially separate its core businesses Kalmar and Hiab into two standalone companies.

On 30 May 2024, Cargotec's Annual General Meeting resolved on the partial demerger of Cargotec Corporation in accordance with the demerger plan.

On 30 June 2024, the completion of the partial demerger of Cargotec Corporation was registered in the Finnish Trade Register. Read more.

 

Divestment of MacGregor

MacGregor, the third business area of the former Cargotec group, will be divested. For more information see MacGregor Divestment.

Releases and events

 

DateTopic (click the headline to open)
30 June 2024The partial demerger of Cargotec has been registered – Kalmar to be listed on Nasdaq Helsinki
26 June 2024Cargotec updates its outlook for 2024 due to the completion of the Kalmar demerger
26 June 2024Cargotec has decided to complete the partial demerger of Cargotec; trading in Kalmar’s class B shares is expected to commence on 1 July 2024
12 June 2024Cargotec has applied for Kalmar to be listed on Nasdaq Helsinki
30 May 2024Decisions taken at Cargotec's Annual General Meeting 2024
27 May 2024Cargotec publishes new long term financial targets for Hiab business area and information on planned management for standalone Hiab
22 May 2024The Finnish Financial Supervisory Authority has approved the prospectus concerning the partial demerger of Cargotec and listing of Kalmar
8 April 2024Notice to Annual General Meeting 2024
1 February 2024The Board of Directors of Cargotec has approved a demerger plan concerning the separation of Kalmar into a new listed company
1 February 2024Demerger Plan and Appendices
1 February 2024Changes in Cargotec Leadership Team / Kalmar’s leadership team as of 1 April, 2024
1 February 2024Teleconference 1 February 2024, webcast
1 February 2024Teleconference 1 February 2024, presentation
9 November 2023Sami Niiranen appointed as President of Kalmar and proposed as the new CEO of the potential separately listed standalone Kalmar
26 October 2023 (Q3 2023 interim report)Planned separation of Kalmar and Hiab progressing according to plan, Pekka Ala-Pietilä no longer available as the proposed Chair of the standalone Kalmar Board due to personal reasons (link to the report)
16 August 2023Changes in Cargotec leadership team and Pekka Ala-Pietilä proposed as the Chair of the Board of the potential separately listed standalone Kalmar
27 April 2023Cargotec is planning a separation of Kalmar and Hiab
27 April 2023Webcast about the 27 April 2023 announcement  alongside the Q1/2023 results call
27 April 202327 April 2023 webcast presentation material

More details on the assessment and the potential transaction will be provided in due course once the process proceeds. The timeline of the potential transactions is subject to change. These planned actions are subject to normal local legal requirements and works council consultations. In the event that the Board opts to recommend the partial demerger option as a means to separate Kalmar from the Cargotec group, the proposal would be subject to approval from a General Meeting of Cargotec.

* The following applies to this presentation, the oral presentation of the information in this presentation by Cargotec Corporation (the “Company” or “Cargotec”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bound by the following terms and conditions. This presentation does not constitute an offer of or an invitation by or on behalf of Cargotec, or any other person, to purchase any securities. The Information includes “forward-looking statements” that are based on present plans, estimates, projections and expectations and are not guarantees of future performance. They are based on certain expectations and assumptions, which, even though they seem to be reasonable at present, may turn out to be incorrect. Shareholders should not rely on these forward-looking statements. Numerous factors may cause the actual results of operations or financial condition of Cargotec, Kalmar or Hiab to differ materially from those expressed or implied in the forward-looking statements. Information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. The Information includes estimates relating to the benefits expected to arise from the planned partial demerger, which are based on a number of assumptions and judgments. The assumptions relating to the estimated benefits arising from the planned partial demerger are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties that could cause the actual benefits arising from the planned partial demerger to differ materially from the estimates in this presentation. Further, there can be no certainty that the planned partial demerger will be completed in the manner and timeframe described in this presentation, or at all. All the discussion topics presented during the session and in the attached material are still in the planning phase. The final impact on the personnel, for example on the duties of the existing employees, will be specified only after the legal requirements of each affected function / country have been fulfilled in full, including possible informing and/or negotiation obligations in each function / country.

IR contacts

Aki Vesikallio
Vice President, Investor Relations
Tel. +358 40 729 1670
aki.vesikallio@hiab.com

Oscar Törnwall
IR Manager
Tel. +358 40 705 0894
oscar.tornwall@hiab.com

Andreea Ciutacu*
Executive Assistant
Tel. +358 50 337 9386
andreea.ciutacu@hiab.com
*Contact for meeting requests