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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Marine Equipment

GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Hansa Offenburg, Hansa Drakenburg Sail Scale-free

Leonhardt & Blumberg was founded in 1903 and has managed more than 180 vessels, the majority of which were general cargo vessels and bulk carriers. Today the company

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1104 sec (9 req/sec)