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Cargotec Oyj (HEL:CGCBV) Cargotec Delivers Load Handling Solutions For Iraqi Ministry Of Electricity

Cargotec Oyj (HEL:CGCBV) Cargotec Corporation, Press Release, December 16, 2008 at 11 a.m. Finnish time

Cargotec's business area Hiab providing load handling equipment and solutions has secured a significant order in Iraq. The Iraqi Ministry of Electricity, The General Directorate for the Middle has ordered a complete load handling solution directly from Hiab with a total of 95 HIAB loader cranes and cargo bodies assembled on Iveco trucks. The total value of the order is over 16 million Euros. Most of the deliveries will take place during 2009.

The equipment will be used for handling and carrying goods and supplies, such as electric wire, generators and transformers in building the Iraqi electricity infrastructure. The Ministry of Electricity was established in 2003 and it is responsible for generating, transmitting and distributing of the electrical energy in Iraq. The Iraqi Ministry of Electricity has estimated the country's total need for electricity to be about 11 thousand megawatts. With the current production volume being about 5 thousand megawatts, Iraq is strongly developing its infrastructure to reach production target needed for self-sufficiency.

Hiab's Iraqi dealer Wadi Al-Ghary for General Trading & Trading Agencies Co., Ltd. will provide the full machine back-up through its faculties in Iraq.

The load handling solution includes 95 pieces of HIAB XS 244 loader crane. The crane is a very robust, midrange capacity crane with a long outreach and it is designed for tough and demanding tasks.

Further information for the press: Sandeep Ramakrishnan, Hiab, Sales Manager, Middle East, tel. +971 4 3413933 Jenni Schumacher, Communications Manager, tel. +358 204 55 4904 Further information for the investors: Paula Liimatta, IR Manager, tel. +358 204 55 4634

Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales exceed EUR 3 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.

www.cargotec.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Cargotec Oyj

http://www.cargotec.com

ISIN: FI0009013429

Stock Identifier: XHEL.CGCBV

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