Business Services Industry
Cargotec Corporation to acquire Estonian steel structure and component manufacturer
Nordic Business Report, May 30, 2007
NORDIC BUSINESS REPORT-30 May 2007-Cargotec Corporation to acquire Estonian steel structure and component manufacturer(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish cargo-handling solutions provider Cargotec Corporation said on Wednesday (30 May) that it has made an agreement to acquire the Estonian steel structure and component manufacturer Balti ES, based in Narva, Estonia.
Balti ES is owned by Odense Steel Shipyard Ltd, a subsidiary of the Danish multi-sector group A.P. Moller-Maersk Group. The company employs approximately 600 people and had net sales of approximately EUR14m in 2006.
Cargotec said that the acquisition supports the growing component needs of Cargotec's Hiab and Kalmar business areas.
The parties have agreed not to disclose the transaction value.
Cargotec Corporation provides cargo handling solutions which are used in local transportation, terminals, ports, distribution centres and ships. In 2006 Cargotec's net sales exceeded EUR2.6bn and the company employs some 8,000 people in more than 160 countries. Cargotec is listed on the Nordic Exchange in Helsinki.
One British pound (GBP) is worth approximately 1.46 euros (EUR).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- CUSTOMER WIN: BEA China Selects BMC Software to Deliver Business Service Management Platform
- SiBEAM Invigorates CE and PC Industries with Launch of Products and Partnerships to Fuel WirelessHD® Expansion
- Research and Markets: China Chocolate Market Overview 2009-2010: a Guide to Selling Chocolate in China with Full Forecasts to 2010 and Key Statistical Data
- Project Management Institute Global Accreditation Center for Project Management Education Programs Extends Agreement with China National Steering Committee of Professional Education of Masters of Engineering
- Research and Markets: China Sulfur Industry Report Reveals the Market Increased Greatly, Importing 9.72 Million Tons in the First Nine Months Alone in 2009
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
