The board of directors of Cargotec will investigate and initiate a process to potentially separate its core businesses, Kalmar and Hiab, into two standalone companies. Cargotec’s intention would be to separate Kalmar as a new listed company by means of a partial demerger from Cargotec.
Based on the initial assessment, the board has estimated that the separation of Kalmar and Hiab could unlock shareholder value by allowing both businesses to pursue sustainable profitable growth opportunities independently.
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 Cargotec on 14 November 2022, MacGregor, which is currently one of the three business areas of Cargotec, will not be part of Cargotec’s portfolio in the future. Therefore, in parallel, Cargotec’s focus remains to continue looking for a solution for MacGregor during 2024. If the planned actions are completed, there would be three separate businesses, Kalmar, Hiab and MacGregor.
Cargotec says the planned partial demerger would be a logical next step in Cargotec’s previously announced aim to increase the independence of its businesses.
In 2022, Cargotec’s plan to merge with Konecranes was cancelled after a decision by the UK Competition & Markets Authority to block the merger between the materials handling giants.