Cleveland Cascades LtdCimbriaPort of South LouisianaTOC EventsCoaltrans Asia 2021Bühler GmbH
  • Cimbria
  • Bühler GmbH
  • Vigan
  • Cleveland Cascades Ltd
  • Sailors Society
  • TMS Awards 2021

MacGregor receives TTS acquisition clearance

(Posted on 21/07/19)

Cargotec’s MacGregor has received clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group

MacGregor, part of Cargotec, has received a clearance decision from the Chinese competition regulator, SAMR, for the company’s acquisition of the marine and offshore businesses of TTS Group ASA. Based on revised estimates, potential cost synergies are estimated to be around EUR 25-30 million on annual level.

MacGregor now has all the regulatory approvals needed to be able to complete the transaction, which was announced on 8 February 2018. Closing of the transaction is expected to take place 31 July 2019. MacGregor previously announced approval from the German regulator on 6 November 2018, and approval from the South Korean authority on 27 December 2018.

The Chinese competition authority approval includes temporary requirements relating to the terms and conditions of certain new equipment business undertaken in China, and the need to hold certain new equipment businesses separately for a period of two years.

Based on revised estimates, potential cost synergies are estimated to be around EUR 25-30 million on annual level and are expected to be reached within 3 years from closing. In the stock exchange release on 8 February 2018, the potential cost synergies were estimated to be around EUR 30-35 million on annual level and were expected to be reached within 3 years from closing. The revised cost synergy estimate is lower than the earlier estimate, as the closing was delayed from the original target and both parties have already executed some of the cost savings.

Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from 2018 (EUR 242.1 million).

Latest News

First Konecranes Gottwald Generation 6 MHCs to Italy

(Posted on 30/11/21)

Terminal San Giorgio S.r.l. (TSG) has ordered an eco-efficient Konecranes Gottwald ESP.8 Mobile Harbour... Read more


Wärtsilä partners with CCS and Tianjin Port

(Posted on 30/11/21)

The intelligent marine technology company, Wärtsilä Voyage, has signed an MoU with the China... Read more


Damen reaffirms commitment to Germany

(Posted on 30/11/21)

Netherlands-based Damen Shipyards has been busy in Germany in recent weeks, delivering three, specialist... Read more


Euroports expands Rostock bulk capacity with all-electric Liebherr crane

(Posted on 25/11/21)

Liebherr is to supply Euroports Germany with an all-electric portal crane next year. All crane movements... Read more


Damen Shipyards achieves EU emissions milestone

(Posted on 25/11/21)

Damen has become the first shipyard to achieve official EU Stage V certification for its in-house developed... Read more


METIS collaborates with Spire Global

(Posted on 25/11/21)

METIS Cyberspace Technology SA has signed an agreement with global data and analytics expert Spire Global... Read more


OTG partners with Samson Rope for on-demand mooring training

(Posted on 18/11/21)

Ocean Technologies Group (OTG) and Samson Rope, a leading developer and manufacturer of high-performance... Read more


Bedeshi’s new project for ORANO Group

(Posted on 18/11/21)

As part of the project to extend a PAD for heap leaching in Arlit on behalf of the company SOMAIR (Niger... Read more


Two Siwertell road-mobile unloaders for US cement handler

(Posted on 11/11/21)

Bruks Siwertell will deliver two new Siwertell road-mobile ship unloaders for dust-free cement handling... Read more


Berg accelerates drive into electric propulsion

(Posted on 11/11/21)

Berg Propulsion has signed a key supplier and cooperation agreement to provide systems integration capability... Read more


Van AalstSailors SocietyTelestackTBA GroupThe Wolfson Centre for Bulk Solids Handling Technology Vigan
  • TBA Group
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Port of South Louisiana
  • Van Aalst

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping