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Kalmar Negotiate Agreement for STS

Maritime Activity Reports, Inc.

March 10, 2003

Kalmar Industries and Lubbers’ Constructiewerkplaats en Machinefabriek Hollandia BV, are negotiating an agreement concerning the production of steel structures for ship-to-shore (STS) cranes. In the proposed partnership, Hollandia will be responsible for the steel fabrication and assembly of Kalmar STS cranes. Kalmar Industries BV, Kalmar’s Dutch subsidiary, will focus on marketing, R&D, project management and servicing of STS cranes. This arrangement will lead to approximately 100 employees of Kalmar Industries BV, who are presently engaged in steel construction and assembly work, being transferred to Hollandia Cranes BV. The company will continue to operate out of Kalmar Industries’ factory in Rotterdam, but other Hollandia Group factories will also be involved so that capacity can be mobilized to provide short delivery times for even the largest projects.

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