Inside information:
The Board of Directors of
The planning of the potential partial demerger is intended to be carried out during 2023 and the potential execution and separate listing of Kalmar on Nasdaq Helsinki would, if carried out, take place in 2024. As announced by
The planned partial demerger would be a logical next step in Cargotec’s previously announced aim to increase the independence of its businesses. The aim of the planned transaction is to create two focused world-leading listed companies:
- Kalmar, a technology forerunner in container handling and heavy logistics with strong market positions, geared to grow by making the industry electrified and more sustainable
- Hiab, an industry pioneer in on-road load handling with a strong track record of profitable growth and attractive M&A potential.
Unlocking value for shareholders and accelerating growth
Based on the Board of Director’s initial assessment, the planned partial demerger would be expected to improve Kalmar and Hiab’s business performance through higher agility, decisiveness and stronger management focus. In addition, as two standalone businesses, the companies could achieve faster organic and inorganic growth thanks to a more tailored capital allocation strategy and flexible access to external capital.
The Board of Directors believes the planned transaction would increase the attractiveness of the companies and facilitate fair valuation of the businesses. Furthermore, the planned separation would, if implemented, improve the governance and simplify the structures of the separate entities and provide greater transparency and accountability. The Board of Directors will continue assessing possibilities to separate Kalmar and Hiab and will only recommend the planned transaction if upon final assessment there is evidence that enhanced shareholder value can be attained.
“The separation of Kalmar and Hiab would be the logical next step in the growth journey. The Board is convinced that the separation would unlock shareholder value by allowing both businesses to pursue sustainable profitable growth opportunities independently,” says Cargotec’s Chair of Board
“Kalmar and Hiab serve different customers and have limited cross selling synergies. Both businesses have ambitious growth plans and we are now assessing if those would be better served as separate standalone businesses. Kalmar has recently gone through a major transformation to become a more focused business and has an excellent foundation in place to continue to grow independently. Hiab has a proven track record of profitable growth and M&A,” says Cargotec’s President and CEO
Telephone conference and further details
To ask questions, please join the teleconference by registering via the following link: https://palvelu.flik.fi/teleconference/?id=1009460. After the registration, the conference phone numbers and a conference ID to access the conference will be provided. Questions can be presented during the conference. For questions, please press *5 on your telephone keypad to join the queue.
The event can also be viewed as a live webcast at https://cargotec.videosync.fi/2023-q1. The conference call will be recorded and an on-demand version of the conference will be published at Cargotec’s website later during the day.
Note that by dialling to the conference call, the participant agrees that personal information such as name and company name will be collected.
More details on the assessment and the potential transaction will be provided in due course once the process proceeds.
The timeline of the potential transactions is subject to change. These planned actions are subject to normal local legal requirements and works council consultations. In the event that the Board opts to recommend the partial demerger option as a means to separate Kalmar from the
Board of Directors
For more information:
Information for investors:
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
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