Cargotec Company Signs China Shipbuilding Agreement


MacGregor, an engineering solutions provider and part of Cargotec Corporation, has signed a Letter of Intent (LOI) with China State Shipbuilding Corporation (CSSC) to cooperate strategically.

According to a statement, MacGregor’s agreement with CSSC will further strengthen its presence in China, the world’s largest shipbuilding market.

MacGregor helps shipbuilders, owners and operators to optimize the profitability, reliability and environmental sustainability of their operations.

CSSC, an important partner of MacGregor, is a global leader in the industry and the primary shipbuilding group in China.

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The LOI also concerns MacGregor's planned acquisition of the marine and offshore businesses of TTS Group, establishing the potential for cooperation between the two companies.

The acquisition is subject to regulatory approvals in China, Germany and South Korea, with a decision expected by the end of 2018.

A statement, from MacGregor, read: “The mutual trust built between MacGregor and CSSC during the 30 years of partnership will be a solid foundation for the new chapter of strategic cooperation.”

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