MacGregor not to be sold
The Nasdaq Helsinki-listed Cargotec has suspended its sales activities for its business line MacGregor. The company is also maintaining the conclusion drawn from its internal evaluation that "MacGregor will not be part of Cargotec’s portfolio in the future" and will focus on its other businesses, Hiab and Kalmar.
However, after having screened the market, Cargotec found out that "the timing for divesting the business is not ideal at the moment." The group has thus decided not to initiate an active sales process now. MacGregor will focus on improving the profitability of the business and has started a restructuring programme in its offshore business.
In Q1-Q3/2022, revenues amounted to EUR 403 million and operating profit was at EUR -5 million. The whole group generated revenues of approximately EUR 3.3 billion in 2021 with around 11,000 employees. (sh)