MacGregor acquires TTS Group marine and offshore business

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.

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