The companies have entered into an agreement where Cargotec will sell its 49% ownership in RCI to the joint venture partner, and simultaneously acquire certain operations and assets from RHI. According to the preliminary estimate, Cargotec will book a cost affecting comparability totalling EUR 35 million in its second quarter 2020 result as a consequence of the transaction.
The change aims to simplify Cargotec’s global supply chain operations. Simplification is needed mainly because the number of complex automation projects has been growing in the past couple of years. The arrangement will also support the asset light balance sheet structure.
After the transaction is completed, Kalmar and MacGregor will continue selling their offering to customers globally, partnering together with RHI and RCI. As part of the agreement, about 160 RCI employees are estimated to move over to Kalmar once the change in ownership structure has been completed.
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