Cargotec has acquired automation technology and competence from Asciano, Australia's largest national rail freight and ports operator. The acquisition is a strategic step for Cargotec as a leading provider of automated solutions in the ports and terminals industry. The transaction includes the acquisition of Asciano's automation technology assets and transfer of 23 employees. The parties have agreed not to disclose the transaction value.
"This acquisition supports Cargotec's strategy to strengthen our position as a provider of integrated solutions. By adding Asciano's automation technology to our portfolio, we will be able to deliver turnkey solutions for horizontal transportation and yard stacking in automation projects globally. This complements well our existing terminal equipment automation portfolio and we see excellent opportunities for growth and innovation," says Olli Isotalo, Executive Vice President, Terminals, Cargotec.
Cargotec has been a partner in this technology with Asciano's Patrick Container Terminals business for many years and as a world-wide supplier of ports technology and handling equipment is an obvious choice for further developing the technology. For Asciano, automation technology has always been and continues to be of great importance to its Patrick Container Terminal operations but ownership and management of the automation technology assets is not considered part of its core business function. As such Asciano believes there is more value attached to the technology assets if they are owned and managed by an appropriate global technology company. Asciano's Container Terminals will continue to receive maintenance and operational support from Cargotec.
The transaction was signed on 28 June and the operations will become part of Cargotec Australia from 1 July 2012 onwards.