7/8/2005 9:17 AM|
Cargotec's MacGREGOR business area providing marine cargo flow solutions has reached an agreement to acquire All Set Marine Lashing specialized in providing container securing equipment. The acquisition is subject to relevant competition authority approval.
All Set Marine Lashing is based in Sweden and is a private company. Its products include twist locks, turnbuckles and other loose container securing fittings, bottom foundations, lashing points and other fixed fittings. It had net sales of approximately EUR 14 million in 2004.
"By acquiring All Set Marine Lashing we will further strengthen MacGREGOR's globally leading position in container ship technology. All Set Marine Lashing is known in the market as a high quality supplier to the leading container lines to which we can provide additional value by combining our expertise in seaborne container technology", states Hans Pettersson, President of MacGREGOR.
Securing equipment is used to secure cargo and containers on the deck of a ship, preventing cargo from shifting during transit. Typical securing products include twist-locks, turn buckles and lashing bars. Securing is part of MacGREGOR's Dry Cargo division.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Hans Pettersson, President, MacGREGOR, tel. +46 31 850 746
Hans Boman, President, All Set Marine Lashing, tel. +46 708 380 598
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo-handling solutions for ships, ports, terminals and local distribution. Its three business areas, Kalmar, Hiab and MacGREGOR operate in materials hubs. Net sales of Cargotec were approximately EUR 1.9 billion in 2004 and the company has approximately 7,300 employees in over 140 countries. Cargotec's shares are listed on the Helsinki Stock Exchange.