Cargotec to demerge Kalmar from Hiab and spin off as separate company
By Bradley Osborne - 5th April 2024
Finland – In February, Cargotec Oyj of Helsinki, Finland – a specialist in machinery and vehicles for cargo handling in ports and terminals – approved plans to demerge its terminal tractor business and spin it off as a separate listed company later this year.
Kalmar, a subsidiary of the company which, among other things, manufactures terminal tractors for container-handling operations, will be spun off as a new company named ‘Kalmar Corporation’. Cargotec will demerge all assets, debts, and liabilities relating to the Kalmar business and transfer them to the new company. Subsequently, Kalmar’s Class B shares will be listed for trading on Nasdaq Helsinki.
