Cargotec has entered into a long-term partnership with Citec in India. The company also transferred its local engineering centre in Pune, Cargotec Engineering India (CEI), to Citec.
Citec is an international multi-discipline engineering and information management services provider with headquarters in Vaasa, Finland, and sales of about EUR 70 million in 2013. The transaction includes the transfer of Cargotec's current engineering business and its 110 employees from Cargotec to Citec. The parties have agreed not to disclose the transaction value.
According to Cargotec, the partnership with Citec allows the company to focus on its core businesses in India while utilising competitive engineering services in a more flexible and effective way.
“Cargotec has sought after an engineering partner in India, and Citec's solid experience and track record in working globally from India made the decision straightforward. This partnership allows Cargotec better flexibility and efficiency, while simultaneously offering great career opportunities for our 110 engineers in Pune. Our strategic intent is to continue to grow and strengthen the market position of the Hiab, Kalmar and MacGregor businesses in India,” said Olli Isotalo, President, Kalmar at Cargotec.
“This is a significant step for our operations in India, and it also provides great business opportunities elsewhere. We are ready to serve Cargotec proactively according to our strategic intent, with smart engineering solutions and a wide competence,” Citec CEO, Martin Strand, commented.
The unit in Pune as well as Citec's other global units will continue to provide Cargotec and its businesses Hiab, Kalmar and MacGregor engineering and project management services, as well as technical documentation.