Tts Group News

Finnish cargo-handling machinery giant Cargotec announced that its unit MacGregor, which provides solutions and services for handling marine cargoes, has completed the acquisition of the marine and offshore businesses of TTS Group ASA."MacGregor business area has completed the acquisition of the marine and offshore businesses of TTS Group ASA. Cargotec announced in February 2018 an agreement to acquire the businesses for an enterprise value of approximately EUR 87 million," said a press statement from Cargotec.Completion of the acquisition follows receipt of required approvals from the relevant countries and authorities.The acquired businesses will be integrated within MacGregor's operating structure…

Marine and offshore equipment and services form MacGregor announced on Monday it has received a clearance decision from the Chinese competition regulator, SAMR, for the company’s acquisition of the marine and offshore businesses of TTS Group ASA. Based on revised estimates, potential cost synergies are estimated to be around EUR 25-30 million on annual level.MacGregor, part of Cargotec, had previously announced approvals from German and South Korean authorities in November and December 2018 respectively…

Ballast water treatment (BWT) specialist Optimarin reports positive developments in the market today, with the first six months of 2019 showing a year-on-year doubling of revenues, orders and a substantial increase in EBITDA. The Norwegian-headquartered company, has recorded increased business activity in key shipping areas such as North West Europe, South East Asia and the Mediterranean, while segments such as offshore are showing signs of recovery. “It’s a multi-faceted picture…

Cargotec’s MacGregor has hit roadblock to complete the acquisition of TTS Group’s marine and offshore businesses, originally proposed in February 2018.The provider of solutions for handling marine cargoes informed that the closing of MacGregor's TTS acquisition has been postponed to Q3 2019.On 8 February, 2018 MacGregor entered into an agreement to acquire the marine and offshore businesses of TTS Group ASA, a global provider of handling solutions and access systems and services for the marine and offshore industries.The acquisition is subject to regulatory approvals from the competition authorities in Germany, South Korea and China.MacGregor…

Optimarin is growing its staff to effectively handle the growing wave of ballast water management system refit activity.The company, which expects to double its turnover this year, has employed Leiv Kallestad as its new CEO, allowing Tore Andersen, the incumbent, to spend his time enhancing market focus and customer service. In order to handle the expected surge in retrofit installations, expected to peak in 2022-23, Optimarin will now make plans for additional expansion, with growth in the technical and sales departments.Optimarin has now sold 750 of its simple…

MacGregor, part of Cargotec, announced on February 8, 2018 that it has entered into an agreement to acquire the marine and offshore businesses of TTS Group ASA.The acquisition is subject to regulatory approvals from the competition authorities in Germany, South Korea and China. MacGregor announced the approval from the German regulator on November 6, 2018 and the approval from the South Korean regulator on 27 December 2018.MacGregor announced in December that it expected to receive approval from the competition authority in China and close the transaction during Q1 2019. Due to a longer than expected regulatory process in China, the company currently expects closing of the transaction to take place in Q2 2019.

Norway-based TTS Group ASA, a global provider of handling solutions and access systems and services for the marine and offshore industries, has been awarded a contract for sideloading systems for Norway-based expedition cruise operator Hurtigruten.TTS Group has also won a contract for ships equipment to another buyer. Total value of the orders is approximately NOK 38 mln (USD 4.5mln).Hurtigruten, the world’s largest and most sustainable expedition cruise line, is expected to install the advanced TTS sideloading systems on six different ships during 2019-2021.Building on 125 years of Norwegian pioneering heritage, Hurtigruten is today the world's largest expedition cruise company.Few days ago, TTS Group awarded a new contract with Cosco (Dalian) Shipyard Co., Ltd in China.

Norway’s TTS Group has been awarded a NOK 102 million (USD11.7 million) contract with Cosco (Dalian) Shipyard Company in China for five sets of cargo cranes and hatch covers."The contract regards five shipsets of cargo cranes and hatch covers. The equipment is for use on multi-purpose vessels," said a press note.Deliveries are expected to take place by the end of 2019, it said. Last year,  TTS Groupsecured another contract with Cosco (Dalian) Shipyard Co., Ltd in China for a shipset of cargo cranes and hatch covers.The TTS Group is an international corporation that provides first-rate handling solutions and access systems for the marine and offshore industries.

MacGregor, part of Cargotec, received a clearance decision from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.MacGregor announced the approval from the German regulator on November 6, 2018 but is still waiting for the approval from the competition authority in China. As communicated on December 20, 2018, MacGregor expects to close the transaction in Q1 2019.

MacGregor, a part of Cargotec, has yesterday received a clearance decision from the German Federal Cartel Office (Bundeskartellamt) for the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.  The completion of the intended transaction is still subject to regulatory approvals in China and South Korea. MacGregor expects to receive these approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter.

MacGregor and China State Shipbuilding Corporation (CSSC) have signed a Letter of Intent (LOI) on strategic cooperation. The LOI was signed on October 29, 2018 at an executive level meeting in Beijing led by Lei Fanpei, the CSSC Chairman and Michel van Roozendaal, MacGregor President.MacGregor sees that this cooperation will further strengthen its presence in Asia and specifically in China, the world's biggest shipbuilding market. CSSC is a very important partner for MacGregor, as it is the primary shipbuilding group in China and well positioned as a global leader in the industry.The LOI relates to MacGregor's planned acquisition of the marine and offshore businesses of TTS Group and future cooperation potential between the two groups.

MacGregor, part of Cargotec, has entered into an agreement to acquire the marine and offshore businesses from TTS Group, a global provider of cargo handling equipment and services for merchant and offshore ships for an enterprise value of EUR 87 million ($106 mln). The combination of the two businesses will produce greater scale and diversification and will strengthen MacGregor's portfolio and market position in key markets for cargo and load handling equipment. Based on preliminary estimates, potential cost synergies are estimated to be around EUR 30-35 million on annual level and are expected to be reached within three years from closing.

TTS Group announced the delivery of the first of four shipset of TTS deck equipment to COSCO Shanghai Shipyard. In April 2015, Shanghai Shipyard Co. Ltd., part of the China State Shipbuilding Corporation (CSSC), ordered various TTS deck equipment for four 28.000 DWT Multipurpose Heavy Lift Vessels. The first official hand over took place this week end. The vessels are part of the ongoing fleet extension program of China Ocean Shipping (Group) Company (COSCO). COSCO already operates eight identically constructed vessels (Da Type 3) with a maximum lifting capacity of 700t in tandem operation – the largest cranes in the fleet, all made by TTS NMF. Each ship is equipped with two heavy lift cranes of proven TTS NMF type DK II with SWL 350t and one TTS NMF type DK II SWL 100t lifting capacity.

TTS Group ASA said it has secured a new contract for delivering a 10,000-ton ship lift to Casablanca Port in Morocco with an order value of approx. MNOK 135.    The contract is with Civils Contractor Somagec for its Casablanca Port development project.      TTS’s delivery includes design and key component package for a ship lift and transfer system, with completion slated for the first quarter of 2018.

The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published this morning by the Oslo Stock Exchange following a detailed review. PALFINGER aims to acquire 100 percent of the TTS shares. Apart from the necessary anti-trust approvals, the offer is also subject to the condition that at least 90 per cent of all the shares in TTS be offered to the PALFINGER Group (with PALFINGER having already secured acceptance of a total of approx. 66.3 per cent). The initial deadline for acceptance of the offer is 12 August 2016. The Board of Directors of TTS recommends that its shareholders accept PALFINGER’s offer.

TTS Group ASA has through its subsidiary TTS Marine AB in Gothenburg, Sweden entered into a new contract for delivery of cargo access equipment to two pure car/truck carriers (PCTC). The total order value for the two ship-sets is approx. NOK 40 million (approx. USD 4.9 million).   The PCTCs are on order at Hyundai Samho Heavy Industries in South Korea. The TTS deliveries will be completed during 2016.

Through its subsidiary TTS Handling Systems AS, TTS Group ASA has signed an agreement with Rolls-Royce Marine North America Inc. for purchase of Syncrolift assets. The asset deal gives TTS Handling Systems AS an exclusive and unlimited right to conduct future business based on Syncrolift products and relevant intellectual properties and includes takeover of drawings of 250 shiplifts, patents and brand (Syncrolift). TTS successfully launched a strategic market initiative towards the shiplift market a few years ago, and has won the last seven contracts for shiplift newbuilds in the international market. Through the purchase of Syncrolift assets…

Corvus Energy has appointed Halvard “Hal” Hauso as executive vice president of sales and marketing. Hauso brings more than 30 years of industrial marine business development experience to this role, most recently serving six years as senior vice president at Rolls-Royce Marine, leading the power electric system department and as CEO at Scandinavian Electric Systems before it was bought by Rolls-Royce. Andrew Morden, president and CEO of Corvus Energy, said, “Hal will provide an…

The hull is complete, the steelwork concluded, the building of the deckhouse has begun – in the dock of Sietas shipyard the first jack-up vessel for offshore wind farms developed and constructed in Germany is currently taking shape. Construction started in April 2012; the handover of the ship to the client, the Dutch marine engineering company Van Oord, is planned for July of this year. For further work on the final assembly, the jack-up vessel needs to be floating in the dock harbor of the Sietas shipyard.

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…

TTS Ships Equipment AB, a subsidiary of Norway’s TTS Group will deliver specially designed and built cargo access gear for installation aboard the Ultra Voyager cruise vessel, currently under construction at the Kvaerner Masa Yard in Finland. At about 160,000 grt, the new vessel will be the largest cruise vessel ever built. This is the first of the Ultra Voyager Class of cruise liners built by Kvaerner Masa, TTS Ships Equipment having supplied similar systems to all five of the previous Voyager Class, also built at the Finnish Shipyard. Under a turn-key contract, originally signed in January, TTS is building side shell doors, hatch covers and lifting platforms for the vessel, which was ordered by Royal Caribbean Cruise Line (RCCL) last year.

TTS Marine ASA has entered into a letter of intent with Umoe Industri regarding the takeover of Umoe Schat-Harding, which supplies lifeboats and other life-saving equipment to the shipping and offshore markets. The agreed purchase price is around $54.4m. Lifeboats and security equipment will by takeover of Umoe Schat-Harding be established as a new division in TTS, headed by the present managing director, Ove Røsseland. Umoe Industri`s basis for this transaction is to contribute to the development of TTS Group as an active and long-term shareholder. To facilitate active ownership, Umoe Industri AS will contemplate further acquisition of shares both before and after the execution of the agreement.

It is a first in the German shipbuilding industry; the Aeolus, the first jack-up vessel for offshore wind farms designed and built in Germany, which was constructed at Sietas Shipyard for the prestigious Dutch marine engineering company Van Oord, has left the shipyard. Having passed through the Este barrage of Hamburg port, the jack-up vessel now travels along the river Elbe to Bremerhaven. Berthold Brinkmann, administrator at Sietas Shipyard said, "I am proud of what the employees at Sietas shipyard have accomplished with this ship.