- Business
- Hiab Corporation (Nasdaq Helsinki: HIAB) develops and manufactures smart, sustainable on-road load handling equipment and solutions for essential industries including construction, logistics, forestry, recycling, waste management, defense, retail and final mile delivery. The company's premium product portfolio encompasses HIAB, EFFER and ARGOS loader cranes; MOFFETT and PRINCETON truck-mounted forklifts; LOGLIFT forestry cranes; JONSERED recycling cranes; MULTILIFT demountables and hooklifts; GALFAB roll-off cable hoists; tail lifts under the ZEPRO, DEL and WALTCO brands; and HIPERFORM smart connected solutions, complemented by intelligent services such as remote monitoring, diagnostics and data insights to maximize uptime, safety and productivity. Hiab operates globally with an asset-light model, delivering to over 100 countries through approximately 3,000 sales and service locations across all continents, direct sales channels and strategic partner networks.
Founded in 1944 and headquartered in Helsinki, Finland, Hiab generated net sales of EUR 1,647 million from continuing operations in 2024 and employs over 4,200 people worldwide.
In recent developments, Hiab signed an agreement in November 2025 to acquire ING Cranes, a leading Brazilian crane manufacturer with 2024 sales of approximately EUR 50 million and 250 employees, to strengthen its market position and growth in Brazil through inorganic expansion. The company invested EUR 19 million in May 2025 to expand and modernize its MULTILIFT demountables production facility in Raisio, Finland, incorporating energy-efficient solutions, a new showroom and enhanced production capabilities set for completion in 2027, aligning with its sustainability and operational excellence goals. Hiab changed its name from Cargotec Corporation to Hiab Oyj in March 2025 following a corporate separation, with its parent Cargotec selling the MacGregor business to funds managed by Triton in a transaction expected to close by July 2025 to fund Hiab's growth initiatives.