Cargotec Corporation: MacGregor divests Woodfield Systems Ltd.

CARGOTEC CORPORATION, PRESS RELEASE, 27 APRIL 2017 AT 11:00 AM (EEST)

MacGregor, part of Cargotec, sells the majority shares of Woodfield Systems Ltd. Woodfield became part of MacGregor in January 2014, when MacGregor acquired mooring and loading systems unit from Aker Solutions. Woodfield offers onshore loading customers marine loading arms for fluid transfer of crude oil, refined products, chemicals LPG and LNG. Due to the different clientele, Woodfield has been a stand-alone brand within MacGregor.  

"MacGregor is pleased with this agreement with Woodfield management who is buying the majority of the shares of the company. The agreement supports our strategy to focus on our core business and its development," says Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor. "This move also allows Woodfield to fully concentrate on their core business and supporting their customers."

The present 60 employees will all transfer with the agreement and Woodfield continues to serve its onshore loading customers with the high quality products and services, as before.

For more information please contact:
Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor
Tel. [phone], Email: [e-mail] (mailto:[e-mail])

or

Hoeye Hoeyesen, Vice President, Advanced Offshore Solutions, MacGregor,
Tel. [phone], Email: [e-mail] (mailto:[e-mail])

MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands. Shipbuilders, owners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.

MacGregor solutions and services for handling marine cargoes, vessel operations, offshore loads, crude/LNG transfer and offshore mooring are all designed to perform with the sea. www.macgregor.com (http://www.macgregor.com)

MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2016 totalled approximately EUR 3.5 billion and it employs over 11,000 people. www.cargotec.com (http://www.cargotec.com)

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Source: Cargotec Corporation via Globenewswire