Cargotec’s MacGregor completes acquisition of Hatlapa marine equipmentMarine Equipment Products and Services, Stock Markets — By admin on October 31, 2013 at 3:48 PM
CARGOTEC CORPORATION, 31 OCTOBER 2013 AT 5.00 PM (EET)
Cargotec announces today that its MacGregor business has completed the acquisition of privately owned Hatlapa, a leading provider of merchant ship and and offshore deck equipment. Cargotec announced the intention to acquire Hatlapa in July 2013 in a transaction valued at approximately EUR 160 million.
The acquisition further strengthens MacGregor’s line of premium winch products as well as expands the offering to include steering gear, compressors, and deck handling equipment. Hatlapa will be integrated into MacGregor’s existing operating structure and its results will be consolidated into MacGregor’s financial figures as of 1 November 2013.
Hatlapa’s sales contribution to MacGregor from closing for the remainder of the year is expected to be approximately EUR 20 million. Operating profit contribution for the year is expected to be small, as operational profitability will be offset by expected integration costs.
Completion of this acquisition follows receipt of required approvals from the relevant countries and authorities.
Cargotec improves the efficiency of cargo flows on land and at sea – wherever cargo is on the move. Cargotec’s brands MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Cargotec’s global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec’s sales totalled EUR 3.3 billion in 2012 and it employs approximately 10,000 people. Cargotec’s class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com