Cargotec tackles supply chain problems, awaits U.S. Infrastructure Bill

Earnings 668 Industrials - Capital Goods 559 Quote Watch 439 U.S. 5203

Cargotec reported a record high level of new orders in Q2’21 as demand for the materials handling firm’s forklifts and seaport cranes surged on the back of rapidly expanding shipping activity. The forthcoming U.S. Infrastructure Bill may provide more funding for port expansion projects. While the company received no new major port automation orders in Q2’21 according to CEO Mika Vehvilainen, there is a tendency for “investments [to] happen about 12 to 18 months after we see the traffic popping up” suggesting further growth in 2022. In the near term the firm has had to tackle a wide range...

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