Cargotec will put its MacGregor business up for sale – but not immediately.
Cargotec has completed its strategic evaluation of MacGregor and the board of directors has concluded that MacGregor will not be part of Cargotec’s portfolio in the future. Cargotec will focus on profitable growth of its core businesses, Hiab and Kalmar.
According to a Cargotec statement, during the strategic evaluation, it became clear that there is considerable interest in MacGregor.
“However, from a value-creation perspective, the timing for divesting the business is not ideal at the moment. This is due to the current uncertainty in the financial market combined with the early phase of (the) MacGregor turnaround.
“Hence, Cargotec has decided not to initiate an active sales process now. The board of directors continues to evaluate the timing of the divestment,” the statement confirms.
In the meanwhile, MacGregor will focus on improving the profitability of the business and has started a restructuring program in its offshore business.
The evaluation of strategic options of MacGregor including a potential sale of the business was initiated on 30 March 2022. MacGregor is a global leader in sustainable maritime cargo and load-handling solutions.