MacGregor creates new Advanced Offshore Solutions division and appoints Høye G. Høyesen as leader

CARGOTEC CORPORATION, PRESS RELEASE, 18 NOVEMBER 2015 AT 12.45 PM EET

MacGregor, part of Cargotec, creates a new division 'Advanced Offshore Solutions' by merging its two Norway-based divisions and combining the strengths in offshore mooring, loading and load handling businesses. With the new joint division MacGregor aims to gain synergies and improve the operations as well as customer service. Høye G. Høyesen has been appointed to lead the new Advanced Offshore Solutions division, which will become operative on 1 January 2016.

MacGregor continues to develop its offshore operations based on its strengths in engineering and strong commitment to customer service. MacGregor customers will benefit from the stronger team of totally over 450 dedicated new building and service professionals in Arendal and Kristiansand in Norway. The new division will offer technologically advanced solutions, develop new products and is agile to serve our world-wide customers throughout the lifecycle.

Høye G. Høyesen joined MacGregor earlier this year from APL Norway/NOV, where he held several key positions, the latest one being Vice President, Business Development.  "I am confident that with his long and valuable industry experience he will lead the merger successfully and develop the operations for the benefit of our customers," says Michel van Roozendaal, President, MacGregor.

For more information please contact:
Michel van Roozendaal, President, MacGregor, tel. +358 20 777 4490
Minna Karhu, Vice President, Communications, MacGregor, tel. +358 20 777 4500

MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands. Shipbuilders, owners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.

MacGregor solutions and services for handling marine cargoes, vessel operations, offshore loads, crude/LNG transfer and offshore mooring are all designed to perform with the sea. www.macgregor.com

MacGregor is part of Cargotec. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com