MacGregor receives clearance from the German competition regulator for the acquisition of the marine and offshore businesses of TTS

CARGOTEC PRESS RELEASE, 6 NOVEMBER 2018 AT 10 AM EET

MacGregor, a part of Cargotec, has yesterday received a clearance decision from the German Federal Cartel Office (Bundeskartellamt) for the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.  

The completion of the intended transaction is still subject to regulatory approvals in China and South Korea. MacGregor expects to receive these approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter.  

For further information, please contact:
Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor
tel. +65 91737550, pasi.lehtonen@macgregor.com
Robin Thuillier, Communications Director, MacGregor,
tel. +65 9730 4301, robin.thuillier@macgregor.com

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 

MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people. www.cargotec.com