The Board of Directors of Cargotec Corporation, having assessed the strategic alternatives for Cargotec’s core businesses Kalmar and Hiab, has approved a demerger plan concerning a partial demerger of Cargotec, according to the company's release.
According to the demerger plan, Cargotec will demerge so that all assets, debts and liabilities of Cargotec relating to the Kalmar business area or mainly serving the Kalmar business area of Cargotec are transferred to a new company named Kalmar Corporation to be incorporated in the demerger. An application is intended to be made to admit the class B shares of Kalmar for trading on the official list of Nasdaq Helsinki Ltd.
After the completion of the demerger, Kalmar would initially have the same ownership structure as Cargotec, and there would not be any cross-ownership between Cargotec and Kalmar. The Hiab business area of Cargotec would in the demerger remain with the current company. As announced by Cargotec on 14 November 2022, MacGregor, which is currently one of the three business areas of Cargotec, will not be part of Cargotec’s portfolio in the future. Therefore, in parallel, Cargotec’s focus remains to continue looking for a solution for MacGregor during 2024.