Cargotec strengthens MacGregor portfolio by acquiring Hatlapa Group
(Thomson Reuters ONE) -
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 16 JULY 2013 AT 9.30 AM (EEST)
Cargotec's MacGregor has entered into an agreement to acquire privately owned
Hatlapa Group, merchant ship and offshore deck equipment provider, for an
enterprise value of EUR 160 million. Hatlapa's main products are a wide range of
winches, steering gears, compressors, multi-deck-handler cranes, and other
winch related handling equipment. The company's service business includes spare
parts, maintenance, refurbishment and training. By acquiring Hatlapa, Cargotec
will strengthen MacGregor's portfolio and market position and become a global
leader in winches.
Hatlapa was founded in 1919 and is headquartered in Uetersen, Germany. Today,
the company has 585 employees of which the majority is located in Germany,
Norway and Asia. Its sales are expected to be around EUR 120 million in 2013.
The company has production facilities in Germany and Norway for manufacturing
strategically important components and products, but approximately two thirds of
the production is outsourced to third parties.
"This acquisition is an important step in executing MacGregor's growth strategy
and providing customer-focused solutions in both merchant shipping and offshore
segments. The markets are consolidating and MacGregor wants to take an active
part in this development. Hatlapa complements MacGregor's present offering and
Hatlapa's strong position in winches will make us a leading player in global
winch markets. We see a significant growth potential in offshore and are now
better equipped to grasp those opportunities. Hatlapa has an excellent
management with pioneering attitude similar to MacGregor. Together we make a
strong team with good results. Hatlapa also provides excellent opportunities
within services," says Mikael Mäkinen, President, MacGregor.
"MacGregor provides us access to a larger customer base and unique world-wide
service network. Joining forces creates exciting opportunities for innovation
and expansion into new markets," says Dr. Hubertus Hatlapa, Chairman, Hatlapa.
"Our operating culture is alike and becoming a member of MacGregor is seen as
positive news to all of us at Hatlapa," Dr. Hatlapa continues.
Hatlapa Group's three shareholders will continue to have an active role in the
business after the transaction. This commitment is reinforced through their
participation to a Cargotec level capital loan of EUR 35 million which in part
consideration of the purchase price can be transferred to MacGregor equity prior
to planned IPO. This arrangement supports planned IPO and MacGregor's growth
plans.
Hatlapa will be fully integrated into MacGregor operating structure and will
continue its business as a new business line within MacGregor. Hatlapa's
reporting will be consolidated into MacGregor's financial reporting once the
transaction has been completed. The acquisition is subject to regulatory
approvals from competition authorities, which are expected to be received during
the second half of 2013.
For further information, please contact:
Mikael Mäkinen, President, MacGregor, tel. +358 20 777 4101
Dr. Alexander Nürnberg, Managing Partner, Hatlapa, tel. +49 4122 711 317
Further information for investors:
Eeva Sipilä, Executive Vice President, CFO, tel. +358 20 777 4104
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
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Source: Cargotec Oyj via Thomson Reuters ONE
[HUG#1716599]
Unternehmensinformation / Kurzprofil:
Datum: 16.07.2013 - 08:30 Uhr
Sprache: Deutsch
News-ID 278607
Anzahl Zeichen: 4925
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Cargotec strengthens MacGregor portfolio by acquiring Hatlapa Group"
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