Hiab

Hiab Corporation 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 a separately listed company. Cargotec then agreed to sell MacGregor to funds managed by Triton, with the transaction completed on 31 July 2025. After Kalmar’s separation and MacGregor’s divestment, the Hiab business became the remaining operating business of Cargotec. Shareholders approved changing the parent company’s name from Cargotec Corporation to Hiab Corporation, or Hiab Oyj in Finnish, in March 2025; the registration took effect on 31 March, and the company began trading on Nasdaq Helsinki on 1 April 2025. Hiab therefore combines the heritage of a long-established load-handling brand with the legal and capital-markets continuity of the former Cargotec corporation. Its current positioning emphasizes productivity, safety, uptime, lower lifecycle costs, electrification and digitally enabled service. The company sells equipment through international markets 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.

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.

1. 2025Cargotec becomes Hiab Corporation

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

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2. 2025Hiab is listed on Nasdaq Helsinki

   Hiab began trading on Nasdaq Helsinki on 1 April 2025.

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3. 2024Kalmar demerger is registered

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

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4. 2022Proposed Cargotec–Konecranes merger is cancelled

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

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5. 2005Cargotec is formed

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

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6. 2004HIAB name adopted for the load-handling business

   The HIAB name was adopted for the wider load-handling business within the predecessor group.

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7. 2000Load-handling portfolio expands through acquisitions

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

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8. 1985Partek acquires HIAB and Jonsered forestry cranes

   The acquisition of Hydrauliska Industrier and Jonsered forestry-crane activities strengthened Partek’s crane and forestry-equipment capabilities.

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9. 1977Partek acquires Multilift

   Partek acquired Multilift Group, establishing an important foundation for the future Hiab load-handling business.

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Premium load handling solutions for transport and logistics

• Hiab loader cranesLoader cranes

  Truck-mounted hydraulic cranes used to load and unload materials without requiring a separate mobile crane. Hiab’s loader-crane portfolio serves construction, distribution, utilities, waste handling and other applications, with product configurations ranging from compact units to high-capacity cranes. The Hiab brand includes advanced models such as the X-HiPro range and is positioned around lifting performance, operator safety, precision and vehicle productivity.

• MultiliftDemountable systems and hooklifts

  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.

• MoffettTruck-mounted forklifts

  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.

• EfferLoader cranes

  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.

• Loglift and JonseredForestry and recycling cranes

  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.

• GalfabRoll-off cable hoists

  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.

• Zepro, Del and WaltcoTail lifts

  Zepro, Del and Waltco tail lifts provide vehicle-mounted lifting platforms for moving goods between road vehicles and ground level or loading docks. They are used in delivery, distribution, retail logistics, waste services and other operations where vehicles must load or unload without permanent dock equipment. The brands give Hiab coverage across multiple regional markets and vehicle configurations.

• Hi-PerformService and lifecycle support

  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.

• 2026Change operating model and reduce costsStrategy

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

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

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• 2025Rename Cargotec Corporation as Hiab CorporationStrategy

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

  What changed. 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.

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• 2025Acquire ING CranesM&A

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

  What changed. 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.

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• 2024Complete the Kalmar partial demergerStrategy

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

  What changed. 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.

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• 2024Sell MacGregor to Triton-managed fundsM&A

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

  What changed. 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)

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• 2023Investigate separation of Kalmar and HiabStrategy

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

  What changed. 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.

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• 2026Hiab reports completion of the ING Cranes acquisition

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

  M&A
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• 2026Hiab announces operating-model and leadership changes

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

  Leadership change
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• 2025Cargotec changes its name to Hiab Corporation

  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.

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• 2025Hiab begins trading on Nasdaq Helsinki

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

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• 2025Hiab completes the sale of MacGregor

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

  M&A
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• 2025Hiab agrees to acquire ING Cranes

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

  M&A
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• 2024Cargotec approves the partial demerger of Kalmar

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

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• 2024Cargotec agrees to sell MacGregor to Triton-managed funds

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

  M&A
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• 2023Cargotec announces investigation of a possible separation of Kalmar and Hiab

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

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1. Hiab Corporation
2. Hiab official website