What is "cargotec"

Cargotec Oy is a Finnish company that makes cargo-handling machinery for ships, ports, terminals and local distribution. Cargotec was formed in June 2005 when Kone Corporation was split into two companies to be listed: Cargotec and new KONE 1.

After the split, Kone Corporation’s container handling (Kalmar Industries AB), load handling ( HIAB) and marine cargo handling (MacGregor) business units formed Cargotec. However, the businesses within Cargotec have much longer histories and have been formed through a series of mergers and acquisitions over several decades.

At the end of 2015, Cargotec had approximately 11,000 personnel working in over 100 countries.

Cargotec's major shareholders 2 are the heirs of Pekka Herlin, who founded Kone Corporation. Current (since July 12, 2005) Chairman of the Cargotec's Board of Directors is Ilkka Herlin.