Cargotec won its appeal in the USA to dispute a USD 13 million verdict of damages
21/12/2018
CARGOTEC CORPORATION, PRESS RELEASE, 21 DECEMBER 2018 AT 1.00 PM (EET)
Cargotec won its appeal in the USA to dispute a USD 13 million verdict of damages
Cargotec won its appeal in the USA to dispute a verdict of damages. In October 2016, Cargotec received a verdict of damages of USD 13 million in the USA in a local jury trial in Hempstead, USA. The verdict was related to business acquisition negotiations Cargotec USA had in 2010 and 2011. The negotiations were closed without results. The claim was based on Cargotec allegedly having breached confidentiality obligations related to the negotiations.
For further information, please contact:
Outi Aaltonen, Senior Vice President, General Counsel, tel. +358 20 777 4020
Hanna-Maria Heikkinen, Vice President, Investor Relations, tel. +358 20 777 4084
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people. www.cargotec.com