WALTCO HYDRAULIC LIFTGATES AND ULTRON LIFT CORP. ANNOUNCE MERGER

(TALLMADGE, Ohio, May 12, 2009) Michael Militello, president of Ultron Lift Corp., has been named president of Waltco. Both liftgate companies are owned by parent company, Cargotec of Helsinki, Finland. He succeeds Rod Robinson who retired on March 6. Militello will oversee operations, strategic planning and annual financial performance of both companies.

Militello earned his undergraduate degree from Stanford University and an MBA from Harvard Business School. Under his leadership, annual sales for Ultron Lift Corp., with headquarters and manufacturing in Buffalo, N.Y., and sales offices in Toronto and Calgary, more than doubled.

Militello also serves on numerous not-for-profit boards in Western N.Y. and Southern Ontario. He resides in Amherst, N.Y., with his wife, Katie, and their three teenage children.

Waltco Lift Corp. is the world’s leading designer, manufacturer and marketer of hydraulic liftgates for truck and trailer applications. The Tallmadge, Ohio-based company has manufacturing operations in Tallmadge and Buffalo, N.Y.; and warehouses in Douglasville, Ga.; Dallas, Texas; Gardena, Calif.; and Toronto, Ontario.

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