Cargotec Corporation: Hiab reorganises its operating model to accelerate growth

CARGOTEC CORPORATION, PRESS RELEASE, 3 FEBRUARY 2015 AT 1 PM (EET)

 

Cargotec's Hiab business area's strategic targets are to provide the best customer satisfaction in on-road load handling, to improve profitability and to grow faster than the market. To make the most of Hiab's business potential, Hiab has decided to further develop its operating structure into a model of five operative and more integrated business lines with profitability and cash flow responsibility: Loader Cranes headed by Joakim Andersson, Forestry Cranes headed by Jon Lopez, Demountables headed by Conor Magee, Truck Mounted Forklifts headed by Keith Quigley, and Tail Lifts headed by Johan Sandberg. 

 

Each of the five business lines will focus on its market positioning, offering, product development and supply chain operations. Sales and Markets headed by Carl-Gustaf Göransson, Sourcing headed by Hans Lindblom and Technology and Quality Development headed by Rafal Sornek will be executed by common global functions to build on the already existing competence and synergies. Simon Greaves joins Hiab as head of Finance and Business Control. 

 

"This evolution of Hiab's operating model will result in an organisation structure with more clearly defined accountabilities, roles and responsibilities. The previous model has served Hiab well during the turnaround phase focusing on building a solid business foundation and improving profitability. Moving into the next phase, where we need to prepare Hiab for growth and develop operational excellence, requires a more accountable and responsive organisation," says Hiab's President Roland Sundén.

 

 

For more information please contact:

Roland Sundén, President, Hiab, tel. [phone]

Lotta Clausen, Vice President, Communications, Hiab, tel. [phone]

 

More information for investors:

Eeva Sipilä, Executive Vice President and CFO, Cargotec, tel. [phone]

Paula Liimatta, Director, Investor Relations, Cargotec, tel. [phone]

 

Hiab is the world's leading provider of on-road load handling equipment. Customer satisfaction is the first priority for us. Around 2,700 professionals at Hiab work to provide high-performance products and services that meet customer needs globally. Our product range includes HIAB loader cranes, JONSERED recycling and forestry cranes, LOGLIFT forestry cranes, MOFFETT truck-mounted forklifts and MULTILIFT demountables, as well as DEL, WALTCO and ZEPRO tail lifts. www.hiab.com

 

Hiab is part of Cargotec. Cargotec's sales totalled EUR 3.2 billion in 2013 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com

 

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via Globenewswire

HUG#1891247