What Cargotec Corp OYJ does

Hiab Corporation (Nasdaq Helsinki: HIAB) is an independent Finnish on-road load handling equipment manufacturer that was separated from Cargotec Corporation and listed on Nasdaq Helsinki in 2024. The company designs, produces and services loader cranes, truck-mounted forklifts, demountables, tail lifts and refuse collection vehicles sold under 16 retained sub-brands including HIAB, EFFER, MOFFETT, MULTILIFT, ZEPRO, LABRIE and HIPERFORM, organised into four business areas: Lifting Solutions, Delivery Solutions, Services, and the newly created Environmental Vehicle Solutions following the July 2026 acquisition of Labrie Environmental Group.

The product portfolio is built around steel-structure mechanical and hydraulic equipment with embedded electronic control modules, telematics (HiConnect) and a growing electrification layer (ePTO, eMoffett, Ultima Zero). Hiab operates global manufacturing in Finland, Ireland and Brazil with an R&D centre in Sweden, and distributes through approximately 3,000 own and partner sales and service locations reaching more than 100 countries. The installed base of roughly 350,000 units underpins a recurring services business (spare parts, HiSkill training, Hiab ProCare contracts, refurbishment, short-term rentals) which represented 30% of 2025 sales at EUR 469 million.

Revenue is generated through B2B equipment sales (70% of 2025 mix) and the services stream, with vertical segmentation in Waste & Recycling, Defense Logistics, Retail & Final Mile, and Construction. Pricing is not publicly disclosed but is structured through direct enterprise sales complemented by channel partners and an e-commerce webshop. In 2025 the company reported sales of approximately EUR 1.556 billion, a comparable operating profit margin of 13.7% (target 16% by 2028), operative ROCE of 30.8%, and a net cash position of EUR 155 million with -15% gearing, reflecting strong capital discipline prior to the Labrie acquisition financed through bank loans and cash.

Name

Cargotec Corp OYJ

Legal name

Hiab Corporation

Website

https://hiabgroup.com

Company type

Public

Founded year

1944

Operating status

Operating

Short description

Hiab Corporation is a Helsinki-listed Finnish manufacturer of on-road load handling equipment—loader cranes, truck-mounted forklifts, demountables, tail lifts and refuse collection vehicles—sold globally through 3,000 service locations to waste, defence, final-mile and construction customers.

Ownership category

akta.pro rank

Product category

Material Handling Equipment

NAICS

Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing (333924), Material Handling Equipment Manufacturing (33392), Construction Machinery Manufacturing (333120), Motor Vehicle Body and Trailer Manufacturing (33621)

SIC

Industrial Trucks, Tractors, Trailors & Stackers (3537), Construction, Mining & Materials Handling Machinery & Equip (3530), Construction Machinery & Equip (3531)

akta.pro primary industry

Cranes, Hoists & Overhead Material Handling (Industrial) (IMAHABAE)

akta.pro secondary industries

Material Handling & Industrial Lift Vehicle Manufacturing (Forklifts/Telehandlers/Reach Stackers) (IMACAFAD), Lifting & Hoisting Rental & Leasing (IMAHAJAN)

Keywords

• Loader cranes
• Truck mounted forklifts
• Tail lifts
• Hooklifts skiploaders
• Refuse collection vehicles

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Equipment Sales: Sales of load handling equipment including loader cranes (HIAB, EFFER, ARGOS, ING, LOGLIFT, JONSERED), truck mounted forklifts (MOFFETT, PRINCETON), demountables (MULTILIFT, GALFAB), tail lifts (ZEPRO, DEL, WALTCO), and refuse collection vehicles (LABRIE, WITTKE, LEACH). Equipment represented 70% of sales in 2025.
2. Services: Services including spare parts sales, maintenance, service repairs, refurbishment and remanufacturing, short-term rentals, service contracts (Hiab ProCare), and training (HiSkill). Services represented 30% of sales in 2025, with target of EUR 700 million by 2028. Current service sales at EUR 469 million (2025).
3. Used and Refurbished Equipment: Sale of used and refurbished equipment as part of circular solutions helping reduce total ownership costs for customers.
4. HiConnect Digital Services: Telematics and connectivity services for equipment monitoring, lifecycle management, and operational optimization.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Hiab manufactures and sells on-road load handling equipment including loader cranes, truck-mounted forklifts, demountable hooklifts and skiploaders, tail lifts, liftgates, refuse collection vehicles, forestry cranes, recycling cranes, and defense logistics solutions, supported by spare parts, maintenance, refurbishment, training, and digital telematics services. The company serves construction, waste & recycling, defense logistics, and retail & final mile delivery operators through its owned brand portfolio and global sales and service network.

Product overview

Hiab is a leading provider of smart and sustainable on-road load handling solutions, operating as a multi-brand portfolio company with products organized across four business areas: Lifting Solutions (loader cranes), Delivery Solutions (demountables, tail lifts, truck-mounted forklifts), Environmental Vehicle Solutions (refuse collection vehicles), and Services. The portfolio includes 16 distinct sub-brands and acquired brands including HIAB, EFFER, ARGOS, ING (loader cranes), LOGLIFT (forestry cranes), JONSERED (recycling cranes), MULTILIFT, GALFAB (demountables), MOFFETT, PRINCETON (truck-mounted forklifts), ZEPRO, DEL, WALTCO (tail lifts), LABRIE, WITTKE, LEACH (refuse vehicles), and the service brand HIPERFORM (HiConnect, HiSkill). The company generates approximately EUR 1.6 billion in annual sales and serves essential industries including waste & recycling, defense logistics, retail & final mile delivery, and construction through a global network of 3,000 sales and service locations across over 100 countries.

Differentiator

Problem solved

Functional benefit

Brands

• HIAB: Loader cranes - the original Hiab brand and industry pioneer
• EFFER
• ARGOS
• ING
• LOGLIFT
• JONSERED
• MULTILIFT
• GALFAB
• MOFFETT
• PRINCETON
• ZEPRO
• WALTCO
• DEL
• HIPERFORM
• LABRIE
• WITTKE
• LEACH
• OLSBERGS

Products and services

• Loader Cranes (HIAB, EFFER, ARGOS, ING) Heavy-duty hydraulic loader cranes mounted on trucks for lifting and material handling on construction sites, with lifting capacities, reach, and control systems tailored to construction, recycling, and logistics operators.
• Truck-mounted Forklifts (MOFFETT, PRINCETON) Self-propelled or truck-mounted forklifts delivered on a truck and used for unloading deliveries at customer sites, including last-mile delivery of building materials, agricultural products, and palletized goods.
• Tail Lifts (ZEPRO, DEL) Hydraulic tail lifts mounted on trucks for loading and unloading goods at delivery points, used by retail and logistics fleets for last-mile and distribution operations.
• Liftgates (WALTCO) Hydraulic liftgates for trucks and trailers, designed for loading and unloading of palletized goods in retail and final-mile delivery applications.
• Refuse Collection Vehicles (LABRIE, WITTKE, LEACH) Specialized trucks for municipal solid waste, recyclables, and organic waste collection, including front, rear, and side loader configurations for waste and recycling operators.
• Hooklifts and Skiploaders (MULTILIFT) Demountable hooklift and skiploader systems that load, transport, and unload interchangeable containers on trucks, used in construction, waste, and defense logistics.
• Roll-off Cable Hoists (GALFAB) Cable-hoist roll-off systems for handling large open-top and closed containers on roll-off trucks for waste and recycling operations.
• Defense Logistics Solutions (OLSBERGS) Military-spec load handling equipment and hooklift systems for transporting containers, fuel, ammunition, and supplies in defense operations, with cybersecurity certifications including CMMC Level 2.
• HIPERFORM Smart Solutions Digital platform and connected services for fleet operators covering fleet optimization, uptime management, and lifecycle services for on-road load handling equipment.
• HiConnect Telematics and IoT subscription service that connects on-road load handling equipment to provide visibility on usage, location, and condition to support maintenance and fleet management.
• HiCare, HiSkill, HiPro and ProParts Services Aftermarket service offerings including warranty (HiCare), operator training (HiSkill), remanufacturing (HiPro), and original spare parts (ProParts) for Hiab's installed base of equipment.
• Hiab ProCare Service Contracts Long-term preventative maintenance service contracts covering inspections, parts, and uptime guarantees for on-road load handling equipment fleets.

Quantifiable outcome

• 37% of total sales from eco portfolio in 2025, target 50% by 2028
• +7 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• HAAS Tail Lift Systems GmbHminorGTM or Marketing Partner · 15 September 2026Joint presence at IAA TRANSPORTATION 2026 demonstrating integrated vehicle, body and tail lift solutions. Shows how ZEPRO solutions work with HAAS tail lift systems for fleet performance.
• Science Based Targets initiative (SBTi)coreOthers · 1 January 2025Hiab's updated science-based targets for reducing greenhouse gas emissions were published in 2025, pending validation by SBTi. Targets include 50% scope 1&2 reduction by 2030 and 25% scope 3 reduction by 2030.
• SSABcoreStrategic or Co-development Partner · 1 January 2024Partnership with Swedish steel manufacturer SSAB to introduce fossil-free steel to the load handling industry. First to bring hooklifts made from fossil-free steel to market (MULTILIFT x SSAB). Supports scope 3 emission reduction targets.
• UN Global CompactcoreOthers · 1 January 2024Hiab is committed to the principles of the UN Global Compact for responsible business practices.
• OECDcoreOthers · 1 January 2024Committed to OECD's guidelines for multinational enterprises.
• UN Guiding Principles on Business and Human RightscoreOthers · 1 January 2024Committed to UN Guiding Principles on Business and Human Rights.
• ILO Declaration on Fundamental Principles and Rights at WorkcoreOthers · 1 January 2024Committed to ILO Declaration on Fundamental Principles and Rights at Work.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Oshkosh Corporation (JLG Industries): US-based manufacturer of specialty vehicles and access equipment including JLG aerial work platforms. Competes with Hiab in commercial vehicle-mounted equipment and serves overlapping construction and logistics customers.
• Liebherr-International AG: Swiss-based global manufacturer of construction equipment including mobile cranes, crawler cranes, and material handling equipment. Competes with Hiab in loader cranes and serves overlapping construction and logistics end markets.
• Terex Corporation: US-based global manufacturer of aerial work platforms, construction cranes, and material processing equipment. Competes with Hiab in lifting equipment and serves overlapping construction end markets.
• Manitowoc Company: US-based manufacturer of crawler cranes, mobile cranes, and tower cranes. While primarily focused on larger construction cranes, Manitowoc competes in the broader lifting equipment market with overlapping industrial customer base.

Direct peers

• Hyster-Yale Materials Handling: US-based global manufacturer of forklifts and material handling equipment. Direct competitor to Hiab in truck-mounted forklifts (MOFFETT, PRINCETON) and warehouse lifting equipment.
• Crown Equipment Corporation: US-based global manufacturer of forklifts and material handling equipment. Competes with Hiab in industrial lifting solutions and serves overlapping warehouse and logistics customers.
• Manitou Group: French-based manufacturer of material handling equipment including telehandlers, forklifts, and aerial work platforms. Direct competitor to Hiab in truck-mounted equipment and serves overlapping construction and logistics customers.
• Konecranes Plc: Finnish-based global leader in lifting equipment and cranes. While focused more on industrial cranes and port solutions, Konecranes competes with Hiab in material handling equipment and lifting technology, particularly in heavy-duty applications.
• Palfinger AG: Austrian-based global leader in loader cranes, tail lifts, and material handling equipment. The most direct competitor to Hiab across loader cranes, with overlapping product portfolio in lifting and loading solutions for commercial vehicles.

Emerging players

• Dongfang Electric Machinery / Sany Heavy Industry: Chinese-based heavy equipment manufacturers expanding globally in cranes and material handling. Emerging competitor to Hiab in loader cranes and construction equipment, particularly in Asia-Pacific and emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cargotec Corp OYJ