HIAB CORPORATION, PRESS RELEASE, 01 APRIL 2025 AT 09:30 AM EEST
Hiab enters Nasdaq Helsinki, driving sustainable growth and value following name change from Cargotec
Hiab, a global leader in smart and sustainable load handling solutions, starts trading today as a standalone company on Nasdaq Helsinki.
Hiab's entry to Nasdaq Helsinki follows Cargotec's Annual General Meeting's resolution on 26 March 2025 to change Cargotec's name to Hiab. The change of the parent company name from Cargotec Corporation to Hiab Corporation has been registered with the Finnish Trade Register on 31 March 2025.
This milestone marks a new chapter for Hiab. Scott Phillips, President and CEO of Hiab says: "With the company transformation and the name change, the shareholders of former Cargotec have shown their belief in Hiab's future growth. We are proud of this trust and aim at generating strong cash flow and sustainable value for our shareholders, solidifying our position as the leader in the load handling industry."
Hiab enters Nasdaq Helsinki with a clear strategy focused on profitable growth, and a motivated and experienced leadership team in place. By 2028, Hiab is targeting annual sales growth of over seven percent over the cycle, a comparable operating profit of 16 percent, and a return on capital employed over 25 percent*.
Hiab's comprehensive portfolio, including well-known brands such as HIAB, MOFFETT, and MULTILIFT, serves essential industries worldwide, from waste and recycling, retail and last mile, to construction and defense logistics, among others. Hiab's "Employees First, Customer Next" philosophy underscores its dedication to fostering a safe, empowering, and sustainable working environment.
Hiab is dedicated to sustainability. As a 1.5°C company, Hiab supports its customers' sustainability goals, with a focus on low-emission material sourcing and increased eco portfolio sales.
Trading in former Cargotec's class B shares will continue with a new ticker "HIAB" on the official list of Nasdaq Helsinki. The ISIN code of Hiab's class B shares is FI4000571013, the same as with Cargotec earlier. The ISIN code for Hiab's class A shares is FI4000571005, also remaining the same as with Cargotec.
On the same day, Hiab Corporation publishes its corporate website www.hiabgroup.com. The site provides Hiab stock exchange and press releases, financial information, as well as comprehensive information about Hiab as a company. Contact details for media and investor relations, and company images for media, are also available.
* Operative ROCE defined as (Operating profit / Operative capital employed)
Further information:
Birgitte Skade, Executive Vice President, Marketing and Communications
Email: birgitte.skade@hiab.com
Further information for investors:
Aki Vesikallio, Vice President, Investor Relations,
tel. +358 40 729 1670
About Hiab
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