MacGregor, part of Cargotec, has made plans to split its Smart Ocean Technology division into a Cargo Handling division and Advanced Offshore Solutions division.
The strategy will contribute towards the company achieving cost savings of approximately US$ 15.3 million in 2018 by reorganizing its operations and began statutory cooperation negotiations.
With these savings, MacGregor seeks synergies by reorganizing both the offshore and merchant shipping operations and continues improving operational efficiency and customer centricity.
The statutory cooperation negotiations have affected MacGregor operations in Norway, Germany, China, and Singapore, resulting in the restructuring of operations and reducing approximately 170 full-time equivalents globally.
They will result in restructuring costs of approximately $8.25 million in the final quarter of 2017.
Michel van Roozendaal, President of MacGregor, said: “These measures enable us to strengthen our leading position in the future maritime cargo flow, offshore mooring and load handling markets and to develop the company to be the leader in smart cargo and load handling.
“We continue to invest in serving our customers globally, and especially in the key developing maritime countries.”