29.02.2008

Cargotec buy back

Cargotec, parent company of Hiab, Kalmar and MacGregor, has decided to buy back up to 10 percent of its publicly traded shares following an authorisation given at today’s Annual General Meeting. The purchases will begin on or after March 17th.

The company says that the shares will be used either to finance or carry out acquisitions or for its share-based incentive plans, or simply be cancelled to increase shareholders equity.

Class B shares will be purchased openly on Helsinki’s Nordic Exchange at the market price, while Class A shares will be purchased privately at a price corresponding the open market value.

Cargotec already has almost two million Class B shares - roughly three percent of its equity, in treasury.