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Friday, November 1, 2013
Release
Cargotec’s MacGregor Completes Acquisition of Hatlapa Marine Equipment
Cargotec announces today that its MacGregor business has completed the
acquisition of privately owned Hatlapa, a leading provider of merchant ship and
and offshore deck equipment. Cargotec announced the intention to acquire
Hatlapa in July 2013 in a transaction valued at approximately EUR 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 1 November 2013.
Hatlapa’s sales contribution to MacGregor from closing for the remainder of the
year is expected to be approximately EUR 20 million. Operating profit
contribution for the year is expected to be small, as operational profitability
will be offset by expected integration costs.
Completion of this acquisition follows receipt of required approvals from the
relevant countries and authorities.
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