Cargotec's business area Hiab providing load handling equipment and solutions has secured a significant order in Iraq. The Iraqi Ministry of Electricity, The General Directorate for the Middle has ordered a complete load handling solution directly from Hiab with a total of 95 HIAB loader cranes and cargo bodies assembled on Iveco trucks. The total value of the order is over 16 million Euros. Most of the deliveries will take place during 2009. The equipment will be used for handling and carrying goods and supplies, such as electric wire, generators and transformers in building the Iraqi electricity infrastructure. The Ministry of Electricity was established in 2003 and it is responsible for generating, transmitting and distributing of the electrical energy in Iraq. The Iraqi Ministry of Electricity has estimated the country's total need for electricity to be about 11 thousand megawatts. With the current production volume being about 5 thousand megawatts, Iraq is strongly developing its infrastructure to reach production target needed for self-sufficiency. Hiab's Iraqi dealer Wadi Al-Ghary for General Trading & Trading Agencies Co., Ltd. will provide the full machine back-up through its faculties in Iraq. The load handling solution includes 95 pieces of HIAB XS 244 loader crane. The crane is a very robust, midrange capacity crane with a long outreach and it is designed for tough and demanding tasks. Hiab is the world's leading supplier of on-road load handling equipment. The product range includes HIAB loader cranes, LOGLIFT and JONSERED forestry and recycling cranes, MULTILIFT demountables, ZEPRO, FOCOLIFT, AMA, DEL, ULTRON and WALTCO tail lifts, as well as MOFFETT and PRINCETON PIGGY BACK® truck-mounted forklifts. In 2007 Hiab's net sales totalled EUR 931 million, it delivered 60,000 load handling units and employed 4,400 people. Hiab operates globally and has production facilities in 10 countries, including China, Estonia, Finland, Ireland, the Netherlands, Poland, South Korea, Spain, Sweden, and the United States. The company has sales companies and representative offices in 33 countries as well as independent importers and distributors in 100 countries around the world.

Cargotec is the world's leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation's brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec's sales are EUR 3 billion. The company employs over 12, 000 people and operates in close to 160 countries. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki.