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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NORDEN Publishes CSR Report

Dampskibsselskabet NORDEN A/S has published its Corporate Social Responsibility (CSR) report 2014. Entitled, “On track”, the CSR report presents an overview of NORDEN’s CSR strategy,

LISCR Appoints New Managing Director for Hong Kong

The Liberian Registry has appointed shipping executive Gerry Buchanan as managing director of its dedicated Hong Kong office, the registry announced today.      As

Wheelabrator Opens Ontario Location

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington,

Finance

Ten Migrants Die in Mediterranean, a Thousand Rescued

At least 10 North African migrants died when their rubber boat overturned in the southern Mediterranean while almost a thousand more from a total of seven vessels

Access to Brazil's Itajai Port to Open as Truck Protest Ends

Protesters have agreed to open access to Brazil's main poultry exporting port of Itajai in Santa Catarina state, the port said on Wednesday, ending a lingering

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

Marine Equipment

Pronomar, ELA Cooperation Continues

Drying container exhibited again on EWEA in Copenhagen   In October 2014 Pronomar shared news about its cooperation with German based company ELA Container Offshore

Wheelabrator Opens Ontario Location

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington,

Caterpillar to Deliver Highest Horsepower Tier 4 Solution

Edison Chouest Offshore has selected Caterpillar Marine's Cat Tier 4 Final C280-16 generator sets for two new vessels, Caterpillar announced today. The generators

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.2023 sec (5 req/sec)