Cargotec had said it would see a slightly positive operating result in 2009, including EUR50m in restructuring costs, but this has now increased to EUR70m and will result in an operating loss.
The merger of Hiab and Kalmar is part of Cargotec’s restructuring plans that will create two new business areas: Industrial and Terminal, and Marine. The Industrial and Terminal area became operational on 1 October, with the Hiab and Kalmar organisations continuing until the end of the year to “secure a smooth transition”.