Cargotec Acquires Tail Lift Companies in North America and Europe

Hiab, the business area providing load handling solutions within Cargotec, has signed an agreement to acquire UK based DEL Equipment (UK) Limited and US based Ultron Lift Corp. The companies owned by Militello Holdings, Inc. manufacture tail lifts in UK and US. DEL is the market leader in UK and Ultron is the market leader in Canada. The sales of the companies in 2007 were approximately EUR 23 million in total and the companies employ 164 persons. The current management will continue in their positions in both companies.