Former Cargotec subsidiary, Hiab, has begun trading as a standalone company on Nasdaq Helsinki, marking a new chapter for the load handling company.
Hiab’s entry to Nasdaq Helsinki follows Cargotec’s decision on 26 March to change Cargotec’s name to Hiab, which was then registered with the Finnish Trade Register on 31 March.
“With the company transformation and the name change, the shareholders of former Cargotec have shown their belief in Hiab’s future growth,” said Scott Phillips, president and chief executive of Hiab.
“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 says its strategy is focused on profitable growth, managed ably by an experienced leadership team. By 2028 the company is targeting annual sales growth of over 7%, a comparable operating profit of 16% and a return on capital employed over 25%.
Hiab’s portfolio, including brands such as HIAB, MOFFETT and MULTILIFT, serves a range of industries worldwide, including waste and recycling, retail, construction and defence logistics, among others.
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 before. The ISIN code for Hiab’s class A shares is FI4000571005, also remaining the same as with Cargotec.
