Cargotec has signed an agreement to acquire BMH Marine AB, a Swedish company specialising in dry bulk handling equipment on ships and in port terminals. The business will become a part of MacGREGOR business area.
BMH Marine key offering is handling equipment for bulk terminals and self-unloaders. The key market area is Asia, which represents almost half of sales. Service represents over 30 per cent of sales revenue. Year 2006 net sales are estimated to rise to close to u201a70 million. BMH Marine employs some 140 people.
BMH Marine is currently owned by Swedish-based Catella Private Equity and private shareholders including company management. The acquisition is subject to competition authority approval.
We are very pleased with this agreement, says Cargotec president and CEO, Mikael Mkinen. BMH Marine expands our offering into the growing market of dry bulk handling solutions.
The company business model of no own-production facilities is an excellent fit into MacGREGOR business model. With a profitability level similar to MacGREGOR and strong orderbook growth during this spring, we expect BMH Marine to support our overall development this year.
MacGREGOR president, Hans Pettersson, said: The acquisition of BMH Marine AB is in line with the MacGREGOR Group intention to further strengthen its position within the dry bulk handling segment. By combining the companies product portfolios and service penetration we will enhance our offer to this specific market segment worldwide.
MacGREGOR Dry Cargo division and BMH Marine have co-operated in projects before, and will now have further opportunities to develop and improve turn-key solutions for the market.
For further information please contact:
Hans Pettersson, President, MacGREGOR Group
Tel: +46 31 850 746 Fax: +46 31 850 901