Cargotec Make Deal on Technology & Competence Center

Press Release
Tuesday, June 04, 2013
"Technology and Competence Center": Photo credit W.P. Carey

W. P. Carey Inc., a  provider of corporate sale-leaseback financing, has acquired the R&D and class-A office facilities of Cargotec Corporation in Tampere, Finland.

The premises are subject to a 20-year triple-net lease with the company.  The total acquisition cost of the 183,569 square foot facility was approximately $52 million (€40 million).

The facility was completed in December 2012 as a "Technology and Competence Center" dedicated to research and development of energy-efficient, safe and intelligent machinery and automation solutions.  The facility is located in an established office and industrial region of Tampere, near the Tampere University of Technology, the leading technical university in Finland. Tampere is the largest inland city in the Nordics and the third largest city in Finland.

Arvi Luoma, Director of W. P. Carey, said, "Cargotec is a leading global industry player which is well capitalized and has remained profitable, despite the financial crisis.  The Technology and Competence Center we've acquired is located in a key industrial and office region in Finland and is very significant to the company's business. We are pleased to support Cargotec's future growth through our investment in these facilities while at the same time adding long-term, income-generating assets to our portfolio and investing in a AAA-rated country."   

Celebrating its 40th anniversary, W. P. Carey Inc. is a publicly traded company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totaling approximately $15.2 billion.

www.wpcarey.com
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation

Ingalls Delivers NSC Hamilton to USCG

Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division delivered the National Security Cutter Hamilton (WMSL 753) to the U.S. Coast Guard today. The

Commissioner Doyle Addresses NCBFAA

Federal Maritime Commissioner William P. Doyle spoke today at the National Customs Brokers & Forwarders Association of America (NCBFAA) Government Affairs Conference in Washington, DC.

Finance

CAGTC Members Win Big in TIGER VI

The U.S. Department of Transportation (USDOT) announced Friday that 72 projects will receive a total of $600 million from the sixth round of the Transportation

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.

Mideast Crude Tanker Rates Near 3-month Low

Crude oil tanker earnings on the major Middle East route fell to their lowest in nearly three months as a slowdown in business in recent days battered rate sentiment.

Marine Equipment

L-3 MSI to Equip Third Quantum Class Ship

L-3 Marine Systems International (L-3 MSI) announced today that it has been awarded a contract to provide a range of navigation, lighting and communication systems

MN 100: Thordon Bearings Inc.

3225 Mainway Burlington, State ON Canada L9C5J8 Tel: (905) 335-1440   Email: craigc@thordonbearings.com  Website: www.thordonbearings.com President

MN 100: Twin Disc, Inc.

1328 Racine Street Racine, WI 53403 Telephone: 262 638 4000 Web: www.twindisc.com President and CEO: John H. Batten Number of employees: 990 The Company: Twin Disc designs,

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1751 sec (6 req/sec)