Global InformationCargotec information
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Native name | Cargotec Oyj |
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| Company type | Julkinen osakeyhtiö |
Traded as | Nasdaq Helsinki: CGCBV |
| Industry | Industrial machinery |
| Predecessor | Kone Cargotec |
| Founded | 2005 |
| Headquarters | Helsinki , Finland |
Area served | Worldwide |
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| Products | Kalmar: automation and integration solutions[buzzword] for terminals, straddle and shuttle carriers, reachstackers, empty container handlers, terminal tractors and forklift trucks, spreaders and bulk handling systems. Hiab: loader cranes, forestry and recycling cranes, demountables, truck-mounted forklifts and tail lifts. MacGregor: hatch covers, lashing systems, cargo handling cranes, RoRo equipment, winches and offshore load handling systems. [1] |
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| Owner | Herlin family (ca. 69% of votes) |
Number of employees | 11,391 (December 2023)[2] |
| Website | www |
| Footnotes / references [3] | |
Cargotec Oyj (trading internationally as Cargotec Corporation) is a Finnish company that makes cargo handling machinery for ships, ports, terminals and local distribution.
Cargotec was formed in June 2005 when Kone Corporation was split into two companies to be listed: Cargotec and new Kone.[4] After the split, Kone Corporation's container handling (Kalmar Global), load handling (HIAB) and marine cargo handling (MacGregor) business units formed Cargotec. However, the businesses within Cargotec have much longer histories and have been formed through a series of mergers and acquisitions over several decades.[5]
At the end of 2023, Cargotec had approximately 11,400 personnel working in over 100 countries.[6]
Cargotec's major shareholders are the heirs of Pekka Herlin. Current (since 27 April 2022) chairman of the Cargotec's board of directors is Jaakko Eskola, replacing long-term chair Ilkka Herlin in 2022.[7]
In December 2022, Cargotec’s CEO Mika Vehviläinen informed Cargotec’s Board of Directors of his intention to retire from Cargotec during 2023.[8] The Board initiated a search for a successor and, in February 2023, announced that it has appointed Casimir Lindholm (M.Sc. (Econ.), MBA), b. 1971, as Cargotec’s new President and CEO as of 1 April 2023.[9]
In April 2023, Cargotec announced that the company board of directors had decided to investigate and start a process to potentially separate the businesses areas Kalmar and Hiab into two standalone companies.[10]
In February 2024, Cargotec published a release stating that the company board of directors had approved a demerger plan concerning the separation of Kalmar into a new listed company.[11]
The demerger is subject to approval by the annual general meeting (AGM) of Cargotec, held on 30 May 2024. The AGM resolved on the partial demerger of Cargotec in accordance with the demerger plan. As part of the demerger resolution and conditional upon the completion of the demerger, the AGM resolved on the incorporation of Kalmar Corporation and approval of its articles of association. The AGM also elected Kalmar's board of directors, chair person and remuneration of the board, auditor and the authorised sustainability auditor for Kalmar, and resolved on the establishment of Kalmar's shareholders’ nomination board of and adopted its’ charter. The meeting also approved the remuneration policy for governing bodies of Kalmar and, as part of the demerger resolution and conditional upon the completion of the demerger, resolved on a decrease of Cargotec's share capital and on the dissolution of share premium reserve of Cargotec.[12]
- ^ "Cargotec's Annual Report 2022" (PDF). cargotec.com. Retrieved 2 February 2023.
- ^ "Cargotec's Financial Statements Review 2023" (PDF). cargotec.com. Retrieved 7 February 2024.
- ^ "CGCBV, Cargotec Oyj, (FI0009013429) - Nasdaq". www.nasdaqomxnordic.com.
- ^ "Demerger | KONE Corporation". Archived from the original on 2013-08-21. Retrieved 2013-09-05.]
- ^ "Mika Vehviläinen to be Cargotec's new CEO as of 1 March 2013". omxgroup.com. Retrieved 3 April 2014.
- ^ "Cargotec's Financial Statements Review 2023" (PDF). cargotec.com. Retrieved 7 February 2024.
- ^ "Change in the Board of Directors – Jaakko Eskola new Chair of the Board - Cargotec". www.cargotec.com.
- ^ "Cargotec's Stock Exchange Release". Retrieved 3 April 2023.
- ^ "Cargotec's Stock Exchange Release". Retrieved 3 April 2023.
- ^ "Cargotec's Stock Exchange Release". Retrieved 7 February 2024.
- ^ "Cargotec's Stock Exchange Release". Retrieved 7 February 2024.
- ^ "Decisions taken at Cargotec's Annual General Meeting 2024". Retrieved 4 June 2024.