Cargotec has strengthened its subsidiary MacGregor by acquiring the marine and offshore business from cargo-handling firm TTS Group.
MacGregor President Michel van Roozendaal said the €87 million (US$108 million) deal will strengthen MacGregor's portfolio and market position in key markets for cargo and load-handling equipment.
It will also strengthen MacGregor’s position in China through the strategic joint ventures with Chinese state-owned ship building companies CSSC Offshore and Marine Engineering and CSIC.
TTS Group's main products include cargo handling and offshore cranes, Ro-Ro access systems, hatch covers, winches and related services.
The acquisition is subject to regulatory approvals, which are expected to be delivered in the third quarter of 2018.