Hiab, part of Cargotec, has completed employee cooperation negotiations in Hudiksvall, Sweden. As a result of the negotiations, 134 employees were affected. In addition, as previously announced, 16 employees will be transferred to IBE Spectrum AB, to whom Hiab sold its paint shop operation in Hudiksvall in May.
The restructuring measures are expected to result in annual cost savings of approximately EUR 11 million with full effect from the year 2016, and generate restructuring costs of approximately EUR 14 million, of which EUR 12 million will be booked in Cargotec’s second quarter financial results.
As announced in February, the focus of the current unit in Hudiksvall will shift from manufacturing to developing new products and testing products, as well as after sales and spare parts support. The production responsibility and the assembly operations for loader cranes, recycling cranes and forestry cranes will gradually come to an end in Hudiksvall by the first quarter of 2015.