Cargotec's MacGregor Acquires Hatlapa
Cargotec announces today that its MacGregor business has completed the acquisition of privately owned Hatlapa, a leading provider of merchant ship and offshore deck equipment. Cargotec announced the intention to acquire Hatlapa in July 2013 in a transaction valued at approximately €160 million. The acquisition further strengthens MacGregor's line of premium winch products as well as expands the offering to include steering gear, compressors and deck handling equipment. Hatlapa will be integrated into MacGregor's existing operating structure and its results will be consolidated into MacGregor's financial figures as of November 1, 2013. Hatlapa's sales contribution to MacGregor from closing for the remainder of the year is expected to be approximately €20 million.
A Billion to One Shot
TTS has set its sights on becoming a billion euro business and is focusing on China as a key growth driver. Through long-term joint ventures with state-owned Chinese concerns, TTS has established itself as the leading (and largest) Norwegian business in China. Ivar K. Hanson, the chief operating officer of marine, offshore and ports and logistics equipment supplier TTS Group, has adopted the diplomatic smile of an experienced politician. He’s batted away a question about the tense…