MacGREGOR Forms Offshore Division

Monday, June 04, 2007
The MacGREGOR Group recently unveiled details of its new offshore division, a division made possible by the recent acquisitions of Hydramarine in Norway and Plimsoll in Singapore. The Offshore division will comprise more than 660 employees: 160 in Norway and 500 in Asia.

In 2006, Hydramarine and Plimsoll had a combined turnover of approximately €104 million and a order backlog of €175 million. Both Hydramarine and Plimsoll are financially consolidated into the MacGREGOR Group as of April 1, 2007. According to the company, there are a number of strong synergies in combining Hydramarine and Plimsoll into one new business division. Business-wise, the MacGREGOR Offshore division will take advantage of the combined strength in the different geographical areas that Hydramarine and Plimsoll represent. There are also strong similarities between the respective product portfolios and technology within Hydramarine and Plimsoll.

Hydramarine focuses on the development of hydraulic and electrical load handling equipment for ship and rig owners, yards and operators. Its key products are large Active Heave Compensated (AHC) cranes for the offshore industry. Hydramarine 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 concentrates on the offshore business in North Sea and the US Gulf region.

Plimsoll focuses on the development of hydraulic deck machinery equipment for ship owners, yards and operators. Plimsoll’s key products are a comprehensive range of winches and cranes for offshore and marine applications. Its products are installed on various kinds of offshore support vessels, oil rig vessels, marine tugs and commercial marine vessels. The company also offers a wide range of services and its service business share of net sales is comparable to MacGREGOR’s. Plimsoll is considered as one of the major deck equipment suppliers in the Asia Pacific region.

New management Team

In conjunction with news of the new division comes news a new management team. The Offshore division management team will be headed by Henrik Vildenfeldt, former senior vice president of corporate development in the MacGREGOR Group. Its first major task is the integration of the new division. The integration process will be complex as it will have to deal with different time zones, cultures and organisations, and consequently the integration team will include a wide range of abilities.

The following people have been assigned to the MacGREGOR Offshore division management team:

- Henrik Vildenfeldt, general manager, Offshore division

- Petri Järvikallio, division controller, Offshore division

- Leif Byström, vice president, operations, Offshore division

- Ismo Matinlauri, director, after sales operations, Offshore division - Kwan Wai Khin, manager, after sales operations, Offshore division

- Henry Yap, managing director, Plimsoll - Chai Chon Kim, executive director, Plimsoll

- Vidar Robstad, managing director, Hydramarine

- Svein Erik Halvorsen, technical director, Hydramarine

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