07.12.2010

Cargotec moves eastward

Pekka Vauramo the chief operating officer and deputy chief executive of Cargotec, owner of Hiab loader cranes and Kalmar reach stackers, is relocating to Hong Kong to drive Cargotec's development initiatives in Asia-Pacific.
Please register to see all images

Pekka Vauramo

The company says that this is part of is new strategy to “allocate resources to emerging markets, while strengthening customer focus globally”.

Ken Loh, executive vice president of Cargotec's Asia-Pacific region, will continue to be responsible for its operations in the region.

Around a third of Cargotec's revenues are currently generated in the Asia-Pacific region and the company employs 2,500 across nine countries with production centres in China, India, Korea, Malaysia and Singapore.

Cargotec's chief executive Mikael Mäkinen said: "As the balance of world trade is shifting to Asia, we cannot lead business from the other side of the world. Our strategy requires a strong local presence, so that we can strengthen our market leadership and grow faster than the industry on average. In 2011, two of our executive board members will be located close to our customers in the emerging markets."