Nordic Business Report-November 2, 2006-Cargotec Corporation completes acquisition of Belgian distributor Catracom
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Finnish cargo-handling solutions provider Cargotec Corporation said on Thursday (2 November) that its Kalmar business area had received necessary competition authority approvals for the acquisition of its Belgian distributor Catracom.
The acquisition contract was signed in September 2006.
Catracom employs approximately 100 people and had net sales of some EUR70m in 2005.
The transaction value was not disclosed.
Cargotec Corporation provides cargo handling solutions, which are used in local transportation, terminals, ports, distribution centres and ships. Cargotec's operations are divided into three global business areas: Hiab, Kalmar and MacGREGOR. In 2005 Cargotec's net sales exceeded EUR2.3bn and it employs some 8,000 people in more than 160 countries. Cargotec is listed on the Nordic Exchange in Helsinki.
One British pound (GBP) is worth approximately 1.48 euros (EUR).
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