Finnish container and cargo handling machinery company Cargotec is planning to inject 32 million euros ($36 million) in boosting the development of digital solutions to secure growth of a new digital business.
In conjunction to the deal, Cargotec will open a new digital solutions hub in Tampere, Finland, which will utilise methodologies, technologies and data to develop digital solutions to all Cargotec business areas Kalmar, Hiab and MacGregor.
Cargotec expects to secure revenue increase from digital and data-based services. The financings accelerate the introduction of Kalmar's, Hiab's and McGregor's new digital and data-driven solutions and services to Cargotec's customers in the cargo handling industry.
The new facility, which is expected to be fully operational by the end of June 2019, will work in close cooperation with Cargotec's business areas ensuring customer value is achieved.