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Stock Exchange release

Cargotec wins EUR 22 million order for 900-tonne MacGregor AHC subsea crane from South Korea

5/16/2013

CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 16 MAY, 2013 AT 9.30 AM (EEST)

 

Cargotec's MacGregor has received EUR 22 million order to deliver a 900-tonne active heave-compensated (AHC) MacGregor subsea crane to the South Korean shipyard, Hyundai Heavy Industries Co Ltd. The crane will be installed on a 150m multi-purpose offshore construction vessel (MOCV) ordered by Sealion Shipping, on behalf of Toisa Ltd.

"This is the largest active heave-compensated MacGregor offshore crane that has been ordered," says Frode Grøvan, Director, Sales and Marketing for Advanced Load Handling. "At a time when subsea modules are getting larger and heavier and operations are being conducted at ever greater depths, a sophisticated crane on this scale equips the new vessel to meet the ever increasing demands of the offshore construction market."

Sealion Shipping, a UK-based offshore support company that manages and operates offshore support vessels for Toisa, describes the MOCV as a customised version of an Ulstein Deepwater Enabler design. It says: "The DP 3 vessel is designed and equipped for worldwide operations in the oil and gas sector, ultra deepwater installation and construction, flexible lay, pipe lay, cable lay and topside construction support, and will be built to the highest standards and with maximum flexibility and capability prioritised".

The crane delivery is planned for the beginning of 2015, with the vessel delivery following shortly afterwards in July.

Further information for the press:
Frode Grøvan, Director, Sales and Marketing, Advanced Load Handling. MacGregor, tel. +47 990 17 782
Heli Malkavaara, Communications Director, MacGregor, tel. +358 2 4121 252

Further information for investors:
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's brands MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 3.3 billion in 2012 and it employs approximately 10,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com