MacGREGOR Forms Offshore Division
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…
MacGregor Establishes Offshore Division
Cargotec’s MacGregor business area providing marine cargo handling solutions has established a new division, MacGregor Offshore. The acquired companies, Norwegian Hydramarine and Singaporean Plimsoll will be the foundation for the new division. The offshore division will be headed by Henrik Vildenfeldt who previously worked as SVP, Corporate Development at MacGregor. Vildenfeldt reports to Olli Isotalo, President of MacGREGOR. The new division employs approximately 700 people. Both Hydramarine and Plimsoll are included in MacGregor financials as of the beginning of April 2007. The new offshore division will focus on achieving targeted synergies from the combination of Hydramarine and Plimsoll and continue to build on future growth.
