CARGOTEC CORPORATION, PRESS RELEASE, 18 JULY 2019 AT 2:30 PM EEST

Hiab, part of Cargotec, has signed a record-breaking agreement to supply MOFFETT M8 55.4 NX truck mounted forklifts with five year ProCare Essential service contracts and equipped with HiConnect for each unit, with one of the largest home improvement chains in the USA. The total order value is over EUR 60 million. In the second quarter, EUR 31 million was booked in the order entry with EUR 29 million booked for the third quarter.

This is Hiab’s largest ever commercial deal and ProCare contract agreement, as well as the biggest single order for the Truck Mounted Forklift Business Line. Deliveries are expected to start in the third quarter 2019 and continue until May 2020. When complete, the customer will have updated a significant portion of their fleet with new connected equipment. This will enable them to collect data from a substantial part of the fleet to improve productivity, safety and get service alerts based on actual usage.

“I’m really proud that Hiab US has secured the biggest commercial order in Hiab’s history, and humbled by the confidence that has been shown in the team, our truck mounted forklifts and service excellence. We look forward to continuing to provide our long standing customer with world class products and services, so they can deliver on their promises,” says Barry McGrane, Vice President North America, Hiab.

“This is a true milestone for MOFFETT. Hiab US has landed a fantastic agreement in cooperation with the MOFFETT assembly site Dundalk. I would like to thank everybody involved from sales, to planning, and to the assembly line,” says Alexander Gelis, Director Sales and Product Business Truck Mounted Forklifts, Hiab.

MOFFETT M8 NX can transfer heavy loads quickly and safely, even across challenging terrain. While the M8 NX is incredibly powerful, it is still compact enough to be carried on almost any truck or trailer. All MOFFETTs are compliant with Tier 4 emission standards in North America & Canada and European Stage V regulations.

Further information:

Barry McGrane, Vice President North America, Hiab
m: +1 419 377 9829, barry.mcgrane@hiab.com

Alexander Gelis, Director Global Sales and Product Management, Truck Mounted Forklifts, Hiab
m: +46 70 395 42 66, alexander.gelis@hiab.com

Nils Gjerstad, Senior Communication Manager, Hiab
m: +46 70 600 5822, ext.nils.gjerstad@hiab.com

About Hiab
Hiab is the world's leading provider of on-road load handling equipment, intelligent services, smart and connected solutions. Hiab’s more than 3,800 employees worldwide work passionately for Hiab to be the number one partner and preferred load handling solution provider to its customers. As the industry pioneer and with a proud 75 year history, Hiab is committed to inspire and shape the future of intelligent load handling.

Hiab's class-leading load handling equipment includes HIAB, EFFER and ARGOS loader cranes, LOGLIFT and JONSERED forestry and recycling cranes, MOFFETT and PRINCETON truck mounted forklifts, MULTILIFT skiploaders and hooklifts, and tail lifts under the ZEPRO, DEL, and WALTCO brands. Hiab ProCare™ service, the award-winning HiVision™ crane operating system, or the HiConnect™ platform demonstrate Hiab’s constant drive to provide intelligent services and smart solutions that add value to its customers. www.hiab.com

Hiab is part of Cargotec Corporation. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2018 totalled approximately EUR 3.3 billion, and it employs around 12,000 people. www.cargotec.com

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