Kalmar separating from Cargotec could unlock shareholder value by allowing both companies to independently pursue sustainable and profitable growth opportunities.
That is the clear message being put forward by the Cargotec board of directors.
As a result of this process, two listed companies are being created:
- Kalmar - a technology forerunner in container handling and heavy logistics with strong market positions, geared to grow by making the industry electrified and more sustainable.
- Hiab - an industry pioneer in on-road load handling with a strong track record of profitable growth and attractive M&A potential.
Jaakko Eskola, Chair of the Board, Cargotec, provides further insight into the rationale: “The planning and evaluation of the demerger has progressed well. The Board of Directors with the support of certain major shareholders, has after careful consideration decided to propose the separation of Kalmar from Cargotec by means of partial demerger to increase shareholder value.”
The Demerger is subject to approval by the annual general meeting of Cargotec being held on May 30, 2024. This will then lead to a planned completion date of June 30, 2024.
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