Cargotec’s MacGregor completes acquisition of Aker Solutions’ mooring and loading systems unit

Marine Equipment Products and Services, Technical, Technology — By on January 30, 2014 at 5:58 PM

Cargotec logo newCARGOTEC CORPORATION, 30 JANUARY 2014 AT 3.00 PM EET

Cargotec’s MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately EUR 180 million. The unit will be consolidated into MacGregor’s results as of 1 February 2014.

“The addition of the mooring and loading systems’ team members, technologies and products further positions MacGregor as a true leader in the marine and offshore equipment market. When combined with our other MacGregor products and the expertise of the recently acquired Hatlapa marine equipment business, we can now offer customers the most complete range of high performing equipment and systems”, states Eric Nielsen, President, MacGregor. “With this acquisition now complete, we look forward to a quick and smooth integration into MacGregor family, with the clear goal of serving our existing and new customers with the most innovative and well supported offering”, Eric Nielsen continues.

“We are happy to become part of MacGregor and see exciting opportunities coming from the combined resources, technologies and global footprint of our two companies. This is a very positive development for all of our customers and team members,” says Leif Haukom who leads the mooring and loading systems unit.

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

“Jo”

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