Cargotec faces US$34.6 million special costs in restructuring in Q4

CARGOTEC is to book EUR26 million (US$34.6 million) in special costs following restructuring measures begun in October 2012 to allow for each of its three businesses to hold responsibility for operations and decisions.

The cargo handling equipment maker Cargotec finished off negotiations and lay-offs at a cost of EUR19 million to create savings of EUR30 million for 2013.

Cargotec brands Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world, said a company statement.