Finland: Cargotec has signed an agreement with JCE Invest to establish a joint venture, Bruks Siwertell Group, specialised in dry bulk handling. The new joint venture will own Siwertell and Bruks Holding. Cargotec will own 48% of the shares in Bruks Siwertell Group and JCE Invest will own the remaining share.

"This joint venture supports Cargotec's strategy to focus on container ports, heavy industrial segment and logistics. Siwertell's business is outside these core focus areas, with different customers, customer locations and limited synergies with the rest of our businesses. By joining forces with JCE Group, we are able to create a company that will be a significant player in the bulk material handling with a globally competitive and specialised product portfolio," said Antti Kaunonen, president of Kalmar, part of the Cargotec group.

Siwertell is a supplier of ship unloaders, road-mobile unloaders, port-mobile unloaders, ship loaders, mechanical and pneumatic conveying systems, and bulk terminal solutions. Bruks specialises in mechanical-engineering and equipment supply for the bulk materials handling industries.