Cargotec Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Cargotec Oyj Concludes Restructuring
Cargotec Oyj announced that it has initiated several restructuring measures during the second half of 2012. As a consequence, the Company announced in October 2012 that it starts employee cooperation negotiations concerning the entire personnel aiming at adjusting Cargotec's operations to the new business-driven operating model and improving profitability. In addition, cooperation negotiations were announced during the fourth quarter of 2012 in Lidhult and Hudiksvall, Sweden. These actions aim to improve operational efficiency, profitability and to ensure long-term competitiveness in global markets. Majority of the negotiations have been concluded. The Company will book EUR 26 million in non-recurring restructuring costs in the fourth quarter of 2012, of which approximately EUR 19 million impacts cash flow. Non-recurring restructuring costs booked in 2012 total EUR 26 million. The Company estimates that the measures taken result in approximately EUR 30 million cost savings for the year 2013.
Latest Developments for Cargotec Oyj
- Cargotec issues FY 2014 guidance in line with analysts' estimates
- Cargotec proposes FY 2013 dividend of EUR 0.41 per A share and EUR 0.42 per B share
- Cargotec Oyj establishes joint venture with China National Heavy Duty Truck Group Co., Ltd
- Cargotec Oyj Completes Acquisition Of Hatlapa Marine Equipment
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