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Press Release

MacGregor finalises the statutory cooperation negotiations regarding measures to achieve annual cost savings of approximately EUR 13 million

MacGregor, part of Cargotec, announced planned measures to achieve annual cost savings of approximately EUR 13 million by reorganising its operations and began statutory cooperation negotiations. The plans included the split of Smart Ocean Technology division into Cargo Handling division and Advanced Offshore Solutions division. With these savings MacGregor seeks synergies by reorganising both the offshore and merchant shipping operations and continues improving operational efficiency and customer centricity.

The statutory cooperation negotiations have now been finalised, resulting in restructuring of operations and reducing approximately 170 full-time equivalents globally. The measures affect MacGregor operations in Norway, Germany, China, and Singapore. MacGregor employed globally 1,876 persons at the end of September 2017.

As announced earlier, the planned savings are estimated to be reached in 2018. They will result in restructuring costs of approximately 7 MEUR in the final quarter of 2017.

"These measures enable us to strengthen our leading position in the future maritime cargo flow, offshore mooring and load handling markets and to develop the company to be the leader in smart cargo and load handling. We continue to invest in serving our customers globally, and especially in the key developing maritime countries," says Michel van Roozendaal, President of MacGregor.


2017-12-14

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