MacGREGOR Expands into Offshore by Acquiring Hydramarine

Friday, March 16, 2007
MacGREGOR has signed an agreement to acquire Hydramarine AS. Hydramarine is based in Norway and is a company in high-end offshore and subsea load handling systems for the offshore vessel industry. MacGREGOR will acquire 90 percent of the company with the remaining shares being owned by employees. The acquisition is subject to competition authority approval.

Hydramarine focuses on the development of hydraulic and electrical deck machinery equipment for shipowners, yards and operators. Its key products are large active heave compensated cranes to the offshore industry. It offers a complete range of high-end handling systems such as cranes, davits, winches and subsea load handling solutions. Its products are installed on various kinds of offshore supply vessels and rigs. Hydramarine has an assembly plant in Kristiansand, Norway but has outsourced the manufacturing of components.

Hydramarine was established in 1977 as a supplier of hydraulic components and systems. The company has since developed to become one of the world’s leading suppliers of advanced load handling systems for marine, offshore and subsea operations, and its operations are growing strongly. Source: Offshore Shipping

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