Cargotec
Cargotec Oyj (trading internationally as Cargotec Corporation) is a Finnish company that makes cargo handling machinery for ships, ports, terminals and local distribution.
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 | , |
Area served | Worldwide |
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| Products | Kalmar: automation and integration solutions 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. |
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| Owner | Herlin family |
Number of employees | 11,391 (December 2023) |
| Website | www |
| Footnotes / references | |
Cargotec was formed in June 2005 when Kone Corporation was split into two companies to be listed: Cargotec and new Kone. 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.
At the end of 2023, Cargotec had approximately 11,400 personnel working in over 100 countries.
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.
In December 2022, Cargotec’s CEO Mika Vehviläinen informed Cargotec’s Board of Directors of his intention to retire from Cargotec during 2023. 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.
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.
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.