Cavotec now ready to list on NASDAQ OMX in Stockholm

We are pleased to announce that our proposed share listing on the NASDAQ OMX Stockholm has moved a step closer following approval of the proposal by the NASDAQ OMX Stockholm Listing Committee and the green light from the High Court in New Zealand.

Last week, the Listing Committee of the NASDAQ OMX Stockholm approved Cavotec’s proposed listing on the OMX. This approval, conditional on the completion of administrative steps and final registration of the listing prospectus by the Swedish Financial Supervisory Authority, is a critical step for the company to move its listing from the NZX in New Zealand to the  OMX.

Another significant milestone was reached on Monday with the New Zealand High Court granting Cavotec permission to implement its proposed Scheme of Arrangement and to continue the process of delisting from the NZX.

“The approval received from the NASDAQ OMX Stockholm Listing Committee represents a milestone for our company as it signals a clear acceptance of Cavotec into part of one of the world’s largest stock exchanges,” says Cavotec CEO, Ottonel Popesco.

“The authorisation from the New Zealand High Court to continue our proposed Scheme of Arrangement clears the way to structure the Group for sustained future growth.”

The Board remains confident ahead of its proposed listing on the OMX. The strong order book of EUR 102.1 million at the end of August is the result of a broad product offering and global presence – two key elements of Cavotec’s continued success as a supplier of innovative and sustainable system integration of power, fuel and air supply between fixed and mobile equipment.

Do you know PEMA?

Let’s face it – in the current economy especially, ports are facing a number of challenges. Ports PEMAhave to make more efficient use of scare resources, cope with larger vessels without loss of productivity, reduce environmental impact, meet demands of new security legislation, ensure safe working conditions, and ultimately, be a good neighbour to surrounding communities.

This is where the Port Equipment Manufacturers Association (PEMA) comes in.

Established in 2004, PEMA provides a forum and public voice for the global port equipment sector, reflecting the industry’s critical role in enabling safe, secure, sustainable and productive ports. Chief among the aims of the Association is to foster good relations within the world port equipment community, by providing a forum for the exchange of best practices, common concerns, and views on trends in port equipment design, manufacture and operation worldwide.  PEMA also aims to promote and support the global role of the equipment industry, by raising awareness with the media, customers and other stakeholders: forging relations with other port industry associations and bodies.

Where might you see PEMA in action? Through a combination of activities, such as organising formal and informal gatherings, contributing to industry guidelines and standards, cooperating with other associations, marketing the value of the industry, and researching (and distributing) industry information and statistics.  PEMA recently released their second annual global survey on deliveries of port equipment for calendar year 2008, which is part of its ongoing drive to improve planning and acquisition practices in the port sector.

Current members include ABB, Baltkran, Brevetti Stendalto, Bromma, Cavotec MSL, ConductPicture 2ix-Wampfler, Fantuzzi Reggiane, Hyster Europe, Kalmar Industries, Konecranes, Konecranes Liftrucks, Liftech, MAFI, RAM Spreaders, Stinis, Svetruck, Terberg, Tratos and TTS Port Equipment.

For more information about PEMA or those interested in becoming a member, please leave a comment.