Cargotec sells Indian engineering center to Citec, forms long-term partnership

Cargotec has sold its engineering center in Pune, India, to Citec, an international engineering and information management services provider. The transaction includes the transfer of Cargotec's local engineering business and 110 employees to Citec. The parties have agreed not to disclose the transaction value.

The Pune-based unit has been responsible for global cargo handling engineering projects for Cargotec's brands: Hiab, Kalmar, and MacGregor. Under the new partnership, Citec will continue to provide engineering, project management, and technical documentation services to these businesses and Cargotec's own operations.

Cargotec stated that this move allows the company to focus on its core businesses in India while utilizing competitive engineering services more flexibly and effectively. Olli Isotalo, President of Kalmar, noted that the partnership enhances flexibility and efficiency and offers career opportunities for the engineers in Pune.

Citec, headquartered in Vaasa, Finland, has operated in India for ten years and employs over 530 people across multiple locations. Following the divestment, Cargotec retains 315 employees in India across its various operations. Citec CEO Martin Strand described the agreement as a significant step for Citec's Indian operations and an opportunity to offer engineering solutions globally.