UPDATE 1-Cargotec faces FY opg loss as cuts more jobs

Tue Oct 6, 2009 6:27am EDT

* To cut 500 more jobs, mainly in Finland and Sweden

* To book extra restructuring costs of 20 mln euros

* Will now make an operating loss in 2009

* Stock flat

(Adds quotes, background, shares)

HELSINKI, Oct 6 (Reuters) - Finnish cargo handling equipment maker Cargotec (CGCBV.HE) warned on Tuesday it would swing to a full-year operating loss as a result of restructuring costs from an additional 500 job cuts.

The firm said it would book extra costs of 20 million euros ($29.2 million) this year as it merges its two main units, Hiab and Kalmar. It said the job cuts would be mainly in Finland and Sweden.

"The additional restructuring charge implies that operating result including a full year total of approximately 70 million euros restructuring charges will be negative for 2009," the firm said in a statement.

"Already completed (cuts) and today's announced plans, including structural capacity adjustment measures, are estimated to create total annual savings exceeding EUR 150 million," it added.

Cargotec shares traded flat at 15.20 euros at 1016 GMT. ($1=.6840 Euro) (Editing by Simon Jessop)

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