MacGregor acquires majority shares of Flintstone Technology Ltd. to further strengthen its advanced technology offering in offshore solutions
(Thomson Reuters ONE) -
CARGOTEC CORPORATION, PRESS RELEASE, 29 SEPTEMBER 2016 AT 10 AM EEST
MacGregor, part of Cargotec, has acquired 51% of the shares of the privately
owned company Flintstone Technology Ltd. Flintstone is a small and dynamic
company specialising in advanced technology and innovative products primarily
within the mooring and fluid handling business. The deal was closed on 22
September 2016.
"Offshore operators and field owners are looking for cost and weight optimized
technologies in order to be more efficient. Flintstone has developed several
products that reduce offshore installation time, bring weight savings onboard
the floaters, and in some cases even contribute to more safe operations," says
Høye Høyesen, Vice President, MacGregor Advanced Offshore Solutions. "Our
ownership stake in Flintstone is a good fit for providing these solutions
together. Flintstone's offering complements MacGregor's portfolio in the
offshore segment and also expands our existing product portfolio into new market
areas," Mr Høyesen continues.
"We are very happy to join MacGregor. We are a small team with competent and
innovative engineers. We see a lot of potential we can bring along and add value
for the customers. We like to challenge existing solutions and look for ways to
improve, just what MacGregor is known for doing. Becoming part of a bigger
company brings also many benefits, both for customers and our employees", says
Andrew Clayson, Managing Director, Flintstone Technology.'
"BW Offshore retains a minority stake in Flintstone. We are happy to welcome
MacGregor and with combined expertise, the company is able to help to bring
innovative technology and solve the challenges our projects normally involve.
Furthermore these solutions can be offered to a wider customer base," says
Nordine Benbernou, SVP Business Development, BW Offshore.
Flintstone Technology Ltd., started in 2012 as product design consultancy and
has completed several significant projects before developing their first own
product in 2013, the buoy turret connector. The company is based in Dundee, UK
and has ten employees.
For more information please contact:
Høye Høyesen, Vice President, Advanced Offshore Solutions, MacGregor
tel. + 47 907 610 98, Email: hoye.hoyesen(at)macgregor.com
or
Heli Malkavaara, Senior Communications Manager, MacGregor,
tel. +358 20 777 4500, Email: heli.malkavaara(at)macgregor.com
MacGregor shapes the offshore and marine industries by offering world-leading
engineering solutions and services with a strong portfolio of MacGregor,
Hatlapa, Porsgrunn, Pusnes and Triplex brands. Shipbuilders, owners and
operators are able to optimise the lifetime profitability, safety, reliability
and environmental sustainability of their operations by working in close
cooperation with MacGregor.
MacGregor solutions and services for handling marine cargoes, vessel operations,
offshore loads, crude/LNG transfer and offshore mooring are all designed to
perform with the sea. www.macgregor.com
MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in
2015 totalled approximately EUR 3.7 billion and it employs over 11,000 people.
www.cargotec.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 29.09.2016 - 09:00 Uhr
Sprache: Deutsch
News-ID 497777
Anzahl Zeichen: 3985
contact information:
Town:
Helsinki
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"MacGregor acquires majority shares of Flintstone Technology Ltd. to further strengthen its advanced technology offering in offshore solutions"
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