MacGregor acquires TTS Group marine and offshore business

Cargotec has strengthened its subsidiary MacGregor by acquiring the marine and offshore business from cargo-handling firm TTS Group.

MacGregor President Michel van Roozendaal said the €87 million (US$108 million) deal will strengthen MacGregor's portfolio and market position in key markets for cargo and load-handling equipment.

It will also strengthen MacGregor’s position in China through the strategic joint ventures with Chinese state-owned ship building companies CSSC Offshore and Marine Engineering and CSIC.

TTS Group's main products include cargo handling and offshore cranes, Ro-Ro access systems, hatch covers, winches and related services.

The acquisition is subject to regulatory approvals, which are expected to be delivered in the third quarter of 2018.

Last modified onThursday, 08 March 2018 16:58
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