MacGregor No Future at Cargotec

Cargotec has completed a strategic evaluation of MacGregor but it is not for sale—yet.

It 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, by solving customers’ sustainability challenges.

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 MacGregor turnaround.

Hence, Cargotec has decided not to initiate an active sales process now. The board continues to evaluate the timing of the divestment. In the meanwhile, MacGregor will focus on improving the profitability of the business and has started a restructuring program in its offshore business.

MacGregor will not be part of Cargotec’s portfolio in the future.

Cargotec is expecting MacGregor’s sales and comparable profit to improve in 2023 compared to 2022.

The evaluation of strategic options of MacGregor including a potential sale of the business was initiated on 30 March 2022.

• MacGregor is global leader in sustainable maritime cargo and load handling solutions.