Hiab

Hiab Corporation (Finnish: Hiab Oyj) is a Finnish industrial machinery company focused on on-road load-handling solutions. Its equipment is used by transport operators, construction companies, forestry businesses, recycling organizations, municipal services and other customers whose operations depend on moving, loading, unloading or exchanging goods in the field. The company’s principal product families include loader cranes, truck-mounted forklifts, forestry and recycling cranes, demountable systems, hooklifts, roll-off cable hoists and tail lifts, supported by aftermarket services under the Hi-Perform name. The company’s present form is the result of the transformation of Cargotec Corporation. Cargotec was created in 2005 when Kone Corporation was divided into two separately listed companies. The new Cargotec brought together Kone’s marine cargo-handling business MacGregor, container and terminal equipment activities associated with Kalmar, and the road-based load-handling operations built around HIAB, Multilift and Moffett. Although Cargotec was established in 2005, the businesses within its Hiab area have substantially older roots. The HIAB name originated in the Swedish hydraulic-equipment business acquired by Partek in 1985, while the broader portfolio was expanded through acquisitions and business combinations involving Multilift, Moffett, forestry-crane operations and other specialist manufacturers. For much of its Cargotec period, the Hiab business operated alongside Kalmar and MacGregor. It developed a broad portfolio rather than relying on a single crane category: Hiab, Effer, Argos and Ing serve the loader-crane market; Moffett and Princeton address truck-mounted forklifts; Loglift and Jonsered serve forestry and recycling applications; Multilift supplies demountable and hooklift systems; Galfab produces roll-off cable hoists; and Zepro, Del and Waltco are associated with tail lifts. This multi-brand structure allows the company to address different vehicle types, payload requirements, industries and regional purchasing preferences. Cargotec began a major structural reshaping in the 2020s. Its Kalmar business was separated through a partial demerger registered on 30 June 2024, creating an independent listed company. Cargotec then agreed to sell MacGregor to funds managed by Triton, a transaction completed on 31 July 2025. With Kalmar separated and MacGregor divested, the Hiab business became Cargotec’s remaining operating business. Shareholders approved changing the parent company name from Cargotec Corporation to Hiab Corporation (Hiab Oyj in Finnish) on 26 March 2025; the registration took effect on 31 March 2025, and the company began trading on Nasdaq Helsinki on 1 April 2025. Hiab therefore combines long-established load-handling brands with the legal and capital-markets continuity of the former Cargotec Corporation. Its current positioning emphasizes productivity, safety, uptime, lower lifecycle costs, electrification and digital services. The company sells equipment internationally and supports customers through maintenance, spare parts, training and lifecycle services. In November 2025 it announced an agreement to acquire Brazilian crane manufacturer ING Cranes; the acquisition was reported as completed in January 2026. Hiab also announced operating-model and leadership changes in January 2026 as part of a cost-reduction and organizational program. Hydrauliska Industri AB, widely known through the Hiab name, is a Swedish industrial manufacturer associated with hydraulic loader cranes and a broader portfolio of equipment for loading, transporting, and unloading goods. The company was founded in Hudiksvall in 1944 by Eric Sundin, a ski manufacturer who identified a way to use a truck’s engine and hydraulic power to operate a crane mounted on the vehicle. This concept helped connect road transport with mechanized cargo handling and became the foundation of the Hiab business. The company’s defining technical milestone came in 1947, when it developed what is described as the world’s first hydraulic truck-mounted crane. Rather than requiring separate lifting machinery at the delivery site, a truck equipped with such a crane could load and unload materials as part of its normal operation. This approach was particularly relevant to construction, forestry, logistics, and other industries handling heavy or irregular loads away from fixed industrial facilities. The later Hiab business was shaped less by organic expansion alone than by a series of acquisitions and corporate reorganizations. In 1977, Finland’s Partek Corporation began expanding into engineering and acquired Multilift, a Finnish producer of interchangeable platform-loading equipment. Multilift had been established in 1949 after Mikko, Mauno, and Martti Terho developed a mechanical cable-operated system that used a truck’s front winch to exchange platform bodies. Partek subsequently acquired Hiab and its Jonsered forestry-crane subsidiary in 1985, followed by Loglift in 1988. These transactions brought complementary crane and load-handling technologies into a larger industrial group. During the late 1990s, Partek reorganized itself as an engineering-focused company and divested its construction-materials activities while continuing to build its load-handling portfolio. In 2000, it acquired the Zeteco Group, which included the ZEPRO and WALTCO tail-lift businesses. The same year, Partek added truck-mounted forklift operations associated with the MOFFETT and PRINCETON PIGGY BACK brands. As a result, the business evolved from a hydraulic-crane manufacturer into a broader provider of equipment for truck-based material handling. KONE Corporation acquired Partek in 2002. In 2004, the load-handling operations were renamed after their most valuable product brand, HIAB. In 2005, KONE was divided into a new KONE and Cargotec Corporation. Cargotec brought together Hiab’s load-handling activities with Kalmar’s container-handling operations and MacGregor’s marine-cargo activities, and Cargotec became listed on the Helsinki Stock Exchange. The product scope associated with Hydrauliska Industri AB and Hiab includes loader cranes, demountable container handlers, forestry cranes, knuckle-boom cranes, truck-mounted forklifts, and tail lifts. These products serve professional users that need mobile lifting or load-transfer capability, although the available reference material does not specify a current country-by-country market footprint, revenue, workforce, or present management roster. The company remains part of Cargotec’s Hiab load-handling business. The Hiab name descends from Hydrauliska Industri AB, founded in Hudiksvall, Sweden, in 1944 by Eric Sundin, a ski manufacturer who saw that a truck’s engine and hydraulic power could operate a vehicle-mounted crane. In 1947 the company developed what is described as the world’s first hydraulic truck-mounted crane, allowing one vehicle to combine transport and lifting. The modern business was assembled through acquisitions: Partek acquired Multilift in 1977, Hydrauliska Industri AB and its Jonsered forestry-crane subsidiary in 1985, Loglift in 1988, and in 2000 the Zeteco Group (ZEPRO and WALTCO tail lifts) plus truck-mounted forklift operations associated with MOFFETT and PRINCETON PIGGY BACK. KONE acquired Partek in 2002, and in 2004 the load-handling business was renamed HIAB after its most valuable product brand. Cargotec was created in 2005 when Kone Corporation was divided into two separately listed companies. The new Cargotec brought together Kone’s marine cargo-handling business MacGregor, container and terminal equipment activities associated with Kalmar, and the road-based load-handling operations built around HIAB, Multilift and Moffett. The Hiab area later added or integrated brands such as Effer, Argos, Ing, Loglift, Jonsered, Princeton, Galfab, Zepro, Del and Waltco, giving it coverage across vehicle types, payload requirements, industries and regional purchasing preferences. Cargotec spent the following years as a diversified cargo and load-handling group. It explored strategic alternatives for individual businesses, including a possible MacGregor listing that was postponed in 2013. In 2020 Cargotec and Konecranes announced a proposed merger, which was abandoned in March 2022 after the United Kingdom’s Competition and Markets Authority blocked it on competition grounds. The group then moved toward a simpler structure. In April 2023 Cargotec announced it was investigating the separation of Kalmar and Hiab. The Kalmar partial demerger was registered on 30 June 2024, and Cargotec agreed in November 2024 to sell MacGregor to funds managed by Triton, a transaction completed on 31 July 2025. With Kalmar separated and MacGregor divested, Hiab became Cargotec’s sole remaining business area. Shareholders approved renaming the company Hiab Corporation (Hiab Oyj) on 26 March 2025; the change was registered on 31 March 2025 and the company began trading under the Hiab identity on Nasdaq Helsinki on 1 April 2025.

Hiab’s corporate history combines the development of a Swedish-origin hydraulic-equipment name with the consolidation and later separation of several material-handling businesses. The HIAB name is associated with Hydrauliska Industrier, a Swedish company whose activities became part of Partek in 1985. Partek also developed the broader road-based load-handling portfolio through the acquisition of Multilift Group in 1977 and later additions in forestry cranes, truck-mounted forklifts and related equipment. The load-handling activities were consolidated under the HIAB name during the early 2000s. A major corporate milestone came in June 2005, when Kone Corporation was divided into Kone and Cargotec as separate listed companies. Cargotec combined three principal areas: Kalmar, serving container and terminal handling; MacGregor, serving marine cargo handling; and Hiab, serving road-based load handling. The Hiab area included HIAB loader cranes, Multilift systems and Moffett truck-mounted forklifts, with later portfolio development adding or integrating brands such as Effer, Loglift, Jonsered, Zepro, Del, Waltco, Galfab, Princeton and others. Cargotec spent the following years operating as a diversified cargo and load-handling group. Its businesses served ports, ships, terminals, local distribution, construction, forestry, recycling and transportation. The company explored strategic alternatives for individual businesses, including a possible MacGregor listing, but postponed that plan in 2013. In 2020 Cargotec and Konecranes announced a proposed merger. The transaction was ultimately abandoned in March 2022 after the United Kingdom’s Competition and Markets Authority blocked it on competition grounds. The group then moved toward a simpler structure. In April 2023, Cargotec announced that it was investigating the separation of Kalmar and Hiab. A demerger plan for Kalmar was approved in 2024, and the partial demerger was registered on 30 June 2024. Cargotec also announced the sale of MacGregor to funds managed by Triton in November 2024. That transaction was completed on 31 July 2025. With Kalmar separated and MacGregor divested, Hiab became Cargotec’s sole remaining business area. At the annual general meeting on 26 March 2025, shareholders approved changing the company name to Hiab Corporation in English and Hiab Oyj in Finnish. The change was registered on 31 March 2025, and the company entered Nasdaq Helsinki on 1 April 2025. The renamed company retained the accumulated product brands, manufacturing capabilities, service network and customer relationships of the former Hiab business. Today, Hiab focuses on equipment mounted on or used with road vehicles. Its portfolio spans loader cranes for construction and distribution, truck-mounted forklifts for delivery and handling, forestry and recycling cranes, demountable systems and hooklifts, roll-off hoists and tail lifts. The company also provides aftermarket support, parts, maintenance and related services through Hi-Perform. Its strategic direction includes improving customer productivity and equipment uptime while addressing safety, emissions reduction, electrification and digital monitoring. In 2025–2026, Hiab expanded its crane presence in Brazil through the acquisition of ING Cranes and announced operating-model and leadership changes intended to reduce costs and improve organizational effectiveness. Hydrauliska Industri AB was established in Hudiksvall, Sweden, in 1944 by Eric Sundin. Sundin had worked as a ski manufacturer and saw an opportunity to use a truck’s engine to power a crane through hydraulics. The resulting business became associated with the abbreviation Hiab, derived from the company’s Swedish name, Hydrauliska Industri AB. In 1947, the company introduced a hydraulic crane mounted on a truck, a development described in reference material as the first of its kind in the world. The design allowed one vehicle to perform both transport and lifting functions, reducing dependence on separate loading equipment. This innovation established the technical identity of Hiab and created a platform for later expansion into several categories of truck-mounted handling machinery. The corporate history of the modern Hiab business is closely connected with Partek Corporation, a Finnish industrial company founded in 1898. Partek began diversifying into engineering in 1977, when it acquired Multilift. Multilift had been founded in 1949 by Mikko, Mauno, and Martti Terho to manufacture a mechanical, cable-operated interchangeable platform-loader. Its system used a truck’s front winch and allowed operators to exchange different platform bodies, complementing Hiab’s crane technology with container and platform-handling capability. Partek acquired Hydrauliska Industri AB in 1985, together with its Jonsered forestry-crane subsidiary. In 1988 it added Loglift, another forestry-crane manufacturer. These acquisitions expanded the group beyond conventional loader cranes and gave it a stronger position in forestry and specialized material handling. In the late 1990s, Partek restructured into an engineering-oriented company. It sold its construction-materials activities and concentrated more heavily on industrial equipment, including load handling. In 2000, Partek acquired the Zeteco Group, which included the ZEPRO and WALTCO tail-lift businesses. It also acquired truck-mounted forklift operations that brought the MOFFETT and PRINCETON PIGGY BACK brands into the wider portfolio. The combination created a multi-brand load-handling business covering lifting, loading, unloading, exchangeable bodies, forestry applications, and truck-mounted forklifts. KONE Corporation acquired Partek in 2002. Two years later, in 2004, the load-handling business was renamed HIAB, reflecting the prominence of the original Swedish product brand. On 1 June 2005, KONE Corporation was demerged into the new KONE and Cargotec Corporation. Cargotec combined Hiab load handling with Kalmar container handling and MacGregor marine-cargo handling services, and the new company was listed on the Helsinki Stock Exchange. The historical development of Hydrauliska Industri AB therefore reflects two overlapping stories: the creation of a pioneering Swedish hydraulic-crane manufacturer and the assembly of a broader international load-handling portfolio through acquisitions. The Hiab name now denotes the load-handling business within Cargotec, while the associated product family includes loader cranes, forestry cranes, demountable container handlers, truck-mounted forklifts, and tail lifts. Detailed information about current facilities, executives, financial results, and individual product generations is not established by the supplied reference material. Hiab’s corporate history combines the development of a Swedish-origin hydraulic-equipment name with the consolidation and later separation of several material-handling businesses. Hydrauliska Industri AB was established in Hudiksvall, Sweden, in 1944 by Eric Sundin, a ski manufacturer who saw an opportunity to use a truck’s engine to power a crane through hydraulics. The abbreviation Hiab derives from the company’s Swedish name. In 1947 the company introduced a hydraulic crane mounted on a truck, described in reference material as the first of its kind in the world; the design allowed one vehicle to perform both transport and lifting functions, reducing dependence on separate loading equipment. The modern business is closely connected with Partek Corporation, a Finnish industrial company founded in 1898. Partek began diversifying into engineering in 1977, when it acquired Multilift. Multilift had been founded in 1949 by Mikko, Mauno and Martti Terho to manufacture a mechanical, cable-operated interchangeable platform-loader that used a truck’s front winch to exchange platform bodies. Partek acquired Hydrauliska Industri AB in 1985 together with its Jonsered forestry-crane subsidiary, and added Loglift, another forestry-crane manufacturer, in 1988. In the late 1990s Partek restructured into an engineering-oriented company, selling its construction-materials activities. In 2000 it acquired the Zeteco Group, including the ZEPRO and WALTCO tail-lift businesses, and truck-mounted forklift operations that brought the MOFFETT and PRINCETON PIGGY BACK brands into the portfolio.

• 2025

  Cargotec becomes Hiab Corporation

  [1]Hiab Corporationen.wikipedia.org

  The corporate name changed from Cargotec Corporation to Hiab Corporation after Hiab became the group’s remaining operating business.

• 2025

  Hiab is listed on Nasdaq Helsinki

  [1]Hiab Corporationen.wikipedia.org

  Hiab began trading on Nasdaq Helsinki on 1 April 2025.

• 2024

  Kalmar demerger is registered

  [1]Hiab Corporationen.wikipedia.org

  The partial demerger separating Kalmar from Cargotec was registered in the Finnish Trade Register on 30 June.

• 2022

  Proposed Cargotec–Konecranes merger is cancelled

  [1]Hiab Corporationen.wikipedia.org

  The proposed merger was abandoned after the UK Competition and Markets Authority blocked it on competition grounds.

• 2005

  Cargotec is formed

  [1]Hiab Corporationen.wikipedia.org

  Kone Corporation was divided into Kone and Cargotec, with Hiab, Kalmar and MacGregor becoming Cargotec’s principal business areas.

• 2005

  Cargotec is created through the KONE demerger

  [3]Hydrauliska Industri ABen.wikipedia.org

  KONE is demerged into the new KONE and Cargotec Corporation, with Hiab becoming Cargotec’s load-handling business alongside Kalmar and MacGregor.

• 2004

  HIAB name adopted for the load-handling business

  [1]Hiab Corporationen.wikipedia.org

  The HIAB name was adopted for the wider load-handling business within the predecessor group. The load-handling business is renamed HIAB after its most valuable and recognizable product brand.

• 2002

  KONE acquires Partek

  [3]Hydrauliska Industri ABen.wikipedia.org

  KONE Corporation acquires Partek, bringing the Hiab load-handling operations into the KONE group.

• 2000

  Load-handling portfolio expands through acquisitions

  [1]Hiab Corporationen.wikipedia.org

  Several acquisitions further enlarged the load-handling business, including truck-mounted forklift capabilities associated with Moffett.

• 2000

  Zeteco and truck-mounted forklift businesses are acquired

  [3]Hydrauliska Industri ABen.wikipedia.org

  Partek expands its load-handling activities through the acquisition of the Zeteco Group (ZEPRO and WALTCO tail lifts) and truck-mounted forklift operations associated with MOFFETT and PRINCETON PIGGY BACK.

Showing the 10 most recent.

Professional mobile load-handling equipment for transport, construction, forestry, logistics, and related industrial applications, emphasizing safety, uptime, lifecycle support and increasingly electrified or digital solutions.

• Loader cranes · 1947

  Hiab loader cranes

  Truck-mounted hydraulic cranes used to load and unload materials without requiring a separate mobile crane. The category derives from the company’s original 1947 innovation of using a truck engine and hydraulic system to operate a vehicle-mounted crane. Hiab’s loader-crane portfolio serves construction, distribution, utilities, waste handling and other applications, with configurations ranging from compact units to high-capacity cranes, including advanced models such as the X-HiPro range, positioned around lifting performance, operator safety, precision and vehicle productivity. Hydraulic loader cranes mounted on trucks for lifting, loading, and unloading materials. The product category derives from the company’s original innovation of using a truck engine and hydraulic system to operate a vehicle-mounted crane. It is associated with construction, logistics, delivery, and other applications where cargo must be handled away from fixed loading infrastructure.

• Demountable systems and hooklifts

  Multilift

  Multilift equipment allows trucks to load, exchange and transport detachable bodies or containers. Its hooklift and demountable systems are used in construction, waste management, recycling, municipal operations and logistics. The systems are intended to improve vehicle utilization by enabling one truck to handle multiple bodies or containers, reducing turnaround time and supporting flexible fleet operation. Multilift equipment originated with a mechanical, cable-operated interchangeable platform-loader developed in Finland. The system used a truck’s front winch and enabled operators to exchange different platform bodies. It broadened the load-handling portfolio from crane operations into demountable body and container handling. Multilift equipment allows trucks to load, exchange and transport detachable bodies or containers. It originated with a mechanical, cable-operated interchangeable platform-loader developed in Finland in 1949, which used a truck’s front winch to exchange platform bodies. Its hooklift and demountable systems are used in construction, waste management, recycling, municipal operations and logistics, improving vehicle utilization by enabling one truck to handle multiple bodies or containers.

• Truck-mounted forklifts · 2000

  Moffett

  Moffett truck-mounted forklifts are carried on delivery vehicles and deployed at the destination, allowing operators to unload materials where conventional warehouse equipment is unavailable. They are used in construction materials, building products, landscaping, agriculture and distribution. The product concept combines road transport with last-mile site handling and is intended to reduce dependence on customer-owned forklifts or fixed loading infrastructure. MOFFETT truck-mounted forklifts became part of the load-handling portfolio through Partek’s acquisition of truck-mounted forklift operations in 2000. These vehicles are designed to travel with a truck and provide on-site forklift capability at delivery locations. Moffett truck-mounted forklifts are carried on delivery vehicles and deployed at the destination, allowing operators to unload materials where conventional warehouse equipment is unavailable. The brand entered the portfolio through Partek’s 2000 acquisition of truck-mounted forklift operations. They are used in construction materials, building products, landscaping, agriculture and distribution, combining road transport with last-mile site handling.

• Loader cranes

  Effer

  Effer is a loader-crane brand within Hiab’s portfolio. Its equipment addresses demanding lifting applications in construction, transport, infrastructure and specialized services. The brand complements Hiab’s main loader-crane range with configurations designed for high reach, high capacity and specialized vehicle installations.

• Forestry and recycling cranes

  Loglift and Jonsered

  Loglift and Jonsered cranes serve forestry, timber handling and recycling applications. These products are designed for repeated loading and unloading of logs, scrap, recyclable materials and other bulk goods, often in demanding outdoor environments. Their role within Hiab’s portfolio extends the company beyond general transport and construction into specialized resource-handling operations. Loglift and Jonsered cranes serve forestry, timber handling and recycling applications. Jonsered entered the Partek portfolio with the 1985 acquisition of Hiab and its forestry-crane subsidiary, and Loglift was acquired in 1988. These products are designed for repeated loading and unloading of logs, scrap, recyclable materials and other bulk goods, often in demanding outdoor environments.

• Roll-off cable hoists

  Galfab

  Galfab roll-off cable hoists are used to load and transport detachable containers, particularly in waste, recycling, construction and municipal applications. They form part of Hiab’s container-handling offering and support fleets that need to exchange bodies efficiently between collection, transport and processing sites.

• Tail lifts

  Zepro, Del and Waltco

  Zepro, Del and Waltco tail lifts provide vehicle-mounted lifting platforms for moving goods between road vehicles and ground level or loading docks. ZEPRO and WALTCO entered the group through the 2000 acquisition of the Zeteco Group. They are used in delivery, distribution, retail logistics, waste services and other operations where vehicles must load or unload without permanent dock equipment, giving Hiab coverage across multiple regional markets and vehicle configurations.

• Service and lifecycle support

  Hi-Perform

  Hi-Perform is Hiab’s service brand. It covers aftermarket activities such as maintenance, repairs, spare parts, technical support and other lifecycle services intended to keep equipment operational. The service proposition supports Hiab’s focus on uptime and total cost of ownership after the initial equipment sale.

• Forestry cranes

  Jonsered

  Jonsered is a forestry-crane brand that entered the Partek load-handling portfolio when Partek acquired Hiab and its forestry-crane subsidiary in 1985. The equipment is associated with handling timber and other loads in forestry and related transport operations.

• Forestry cranes

  Loglift

  Loglift is a forestry-crane manufacturer acquired by Partek in 1988. Its inclusion strengthened the group’s specialized equipment offering for logging and timber-handling applications.

• Truck-mounted forklifts · 2000

  PRINCETON PIGGY BACK

  PRINCETON PIGGY BACK is a truck-mounted forklift brand added to the wider load-handling group in 2000. Its equipment supports delivery operations in which materials must be unloaded where conventional warehouse forklifts or fixed handling systems are unavailable.

• Tail lifts · 2000

  ZEPRO

  ZEPRO tail lifts became part of the group through the 2000 acquisition of the Zeteco Group. Tail lifts provide powered access between a truck body and ground level, supporting the loading and unloading of palletized or other heavy goods.

• Tail lifts · 2000

  WALTCO

  WALTCO is a tail-lift brand included in the Zeteco Group acquired by Partek in 2000. Its products extend the load-handling range into rear-of-vehicle lifting and delivery operations.

• 2026

  US Truck Body recalls 2025 Isuzu NPR HD vehicles over liftgate deck pin failure

  US Truck Body is recalling certain 2025 Isuzu NPR HD vehicles equipped with Waltco MDV series liftgates because the deck pins may break, causing the liftgate platform to fall and increasing the risk of injury. The recall potentially affects 31 vehicles. US Truck Body will work with supplier Hiab to inspect the platform bushings and hydraulic systems and replace the deck pins, with all affected vehicles expected to be repaired by August 27.

  Source

Read more

• 2026

  Change operating model and reduce costsStrategy

  Background

  After becoming a standalone Hiab-focused company, management announced organizational measures intended to improve the operating model and cost base.

  Action taken

  Hiab announced planned operating-model changes, cost reductions and changes to its leadership team.

  Source

• 2025

  Rename Cargotec Corporation as Hiab CorporationStrategy

  Background

  Following the Kalmar demerger and MacGregor sale, Hiab was the remaining operating business within the former Cargotec structure.

  Action taken

  Shareholders approved changing the company name to Hiab Corporation in English and Hiab Oyj in Finnish.

  Aftermath

  The name change was registered on 31 March 2025, and the company began trading under the Hiab identity on Nasdaq Helsinki on 1 April 2025.

  Source

• 2025

  Acquire ING CranesM&A

  Background

  Hiab sought to strengthen its crane offering and presence in the Brazilian market.

  Action taken

  Hiab signed an agreement to acquire Brazilian crane manufacturer ING Cranes for an undisclosed amount.

  Aftermath

  The acquisition was reported as completed in January 2026.

  Source

• 2024

  Complete the Kalmar partial demergerStrategy

  Background

  Cargotec approved a demerger plan to separate its Kalmar business into a new listed company.

  Action taken

  The annual general meeting approved the plan, and the demerger was registered in the Finnish Trade Register on 30 June 2024.

  Aftermath

  Cargotec became more concentrated in Hiab and proceeded with the divestment of MacGregor.

  Source

• 2024

  Sell MacGregor to Triton-managed fundsM&A

  Background

  After separating Kalmar, Cargotec sought to dispose of its marine-cargo business and focus on road-based load handling.

  Action taken

  Cargotec agreed to sell MacGregor to funds managed by Triton.

  Aftermath

  The sale closed on 31 July 2025, leaving Hiab as the group’s sole operating business.

  Enterprise value. EUR 480 million (Announced November 2024; completed July 2025)

  Source

• 2023

  Investigate separation of Kalmar and HiabStrategy

  Background

  Cargotec had operated as a diversified group containing Kalmar, Hiab and MacGregor. The board sought a simpler structure and examined separating the businesses.

  Action taken

  Cargotec announced an investigation and process to potentially establish Kalmar and Hiab as standalone companies.

  Aftermath

  Kalmar was subsequently separated through a partial demerger, while MacGregor was sold, leaving Hiab as the remaining Cargotec business.

  Source

• 2005

  Creation of Cargotec through the KONE demergerM&A

  Background

  KONE Corporation reorganized its businesses after acquiring Partek.

  Action taken

  On 1 June 2005, KONE was divided into a new KONE and Cargotec Corporation, with Hiab assigned to Cargotec’s load-handling business.

  Aftermath

  Hiab became part of a listed industrial group alongside Kalmar container handling and MacGregor marine-cargo handling.

  Source

• 2004

  Renaming of the load-handling business as HIABStrategy

  Background

  The Hiab product brand had become the most valuable and recognizable name within the load-handling activities.

  Action taken

  The load-handling functionality was renamed HIAB.

  Aftermath

  The Hiab name became the principal identity for the combined load-handling business within the later Cargotec structure.

  Source

• 2000

  Expansion into tail lifts and truck-mounted forkliftsM&A

  Background

  Partek was broadening its engineering business and building a comprehensive load-handling portfolio.

  Action taken

  Partek acquired the Zeteco Group and truck-mounted forklift operations associated with MOFFETT and PRINCETON PIGGY BACK.

  Aftermath

  The group added tail lifts, truck-mounted forklifts, and additional brands to its existing crane and container-handling activities.

  Source

• 1985

  Acquisition of Hydrauliska Industri ABM&A

  Background

  Partek was pursuing diversification and international expansion in engineering and load handling.

  Action taken

  Partek acquired Hydrauliska Industri AB together with its Jonsered forestry-crane subsidiary.

  Aftermath

  The acquisition brought Hiab’s hydraulic-crane business into Partek’s expanding industrial portfolio.

  Source

• 2026

  Hiab reports completion of the ING Cranes acquisition[1]Hiab Corporationen.wikipedia.org

  M&A

  The acquisition of Brazilian crane manufacturer ING Cranes was reported as completed in January 2026.

• 2026

  Hiab announces operating-model and leadership changes[1]Hiab Corporationen.wikipedia.org

  Leadership change

  Hiab announced planned changes to its operating model, cost reductions and changes to its leadership team.

• 2025

  Cargotec changes its name to Hiab Corporation[1]Hiab Corporationen.wikipedia.org

  Other

  Shareholders approved the parent company’s renaming from Cargotec Corporation to Hiab Corporation, reflecting Hiab’s status as the remaining operating business after the Kalmar separation and MacGregor sale.

• 2025

  Hiab begins trading on Nasdaq Helsinki[1]Hiab Corporationen.wikipedia.org

  Other

  Following the corporate-name change, Hiab Corporation entered Nasdaq Helsinki as the listed successor to Cargotec Corporation.

• 2025

  Hiab completes the sale of MacGregor[1]Hiab Corporationen.wikipedia.org

  M&A

  The divestment of the former Cargotec MacGregor business to Triton-managed funds was completed on 31 July 2025.

• 2025

  Hiab agrees to acquire ING Cranes[1]Hiab Corporationen.wikipedia.org

  M&A

  Hiab announced an agreement to acquire Brazilian crane manufacturer ING Cranes for an undisclosed amount.

• 2024

  Cargotec approves the partial demerger of Kalmar[1]Hiab Corporationen.wikipedia.org

  Other

  Cargotec’s annual general meeting approved the demerger plan for Kalmar, which was registered in the Finnish Trade Register on 30 June 2024.

• 2024

  Cargotec agrees to sell MacGregor to Triton-managed funds[1]Hiab Corporationen.wikipedia.org

  M&A

  Cargotec announced an agreement to sell its MacGregor marine-cargo business to funds managed by Triton for an enterprise value of EUR 480 million.

• 2023

  Cargotec announces investigation of a possible separation of Kalmar and Hiab[1]Hiab Corporationen.wikipedia.org

  Other

  Cargotec’s board began examining a structural separation of the Kalmar and Hiab businesses into standalone companies.

1. 1Hiab Corporationen.wikipedia.org
2. 2Hiab official websitehiab.com
3. 3Hydrauliska Industri ABen.wikipedia.org
4. 4US Truck Body recalls 2025 Isuzu NPR HD vehicles over liftgate deck pin failurefleetowner.com