MacGregor to Split Smart Ocean Technology Division

MacGregor, part of Cargotec, said it will reorganize its offshore and merchant shipping operations as part of a plan aiming to achieve €13 million in annual cost savings.

Under the plan, MacGregor’s Smart Ocean Technology division will be divided into two new divisions: Cargo Handling and Advanced Offshore Solutions.

The statutory cooperation negotiations have now been finalized, 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.

Restructuring costs are estimated to be approximately €7 million in the final quarter of 2017, with planned savings to be reached in 2018.

Michel van Roozendaal, president of MacGregor, said, “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.”