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Cargotec acquires the marine and offshore businesses of TTS

Helsinki - MacGregor, part of the Finnish Cargotec Group that focuses on cargo-handling machinery for ships and ports, has completed the acquisition of the marine and offshore businesses of Norway’s global provider TTS Group ASA

Helsinki - MacGregor, part of the Finnish Cargotec Group that focuses on cargo-handling machinery for ships and ports, has completed the acquisition of the marine and offshore businesses of Norway’s global provider TTS Group ASA.

Cargotec had announced in February 2018 an agreement to acquire the businesses for an enterprise value of approximately EUR 87 million.

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, and their results will be consolidated into MacGregor’s financial figures as of 1 August 2019.

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