11.10.2016

Cargotec faces $13 million charge

Cargotec, owner of Hiab and Kalmar, faces damages of $13 million in the USA for breaching a confidentiality agreement during aborted acquisition talks.

The verdict was handed down by a jury in Hempstead, New York, USA. The verdict is subject to the local judge's confirmation. Verdict is relates to acquisition negotiations that Cargotec USA had in 2010 and 2011. The negotiations were closed without result, but Cargotec was accused of breaching confidentiality obligations relating to the negotiations.

Cargotec disputes the claim and will appeal the decision.