Cargotec seeks business driven operations

Cargotec launched its major restructuring plan in order to improve profitability and cash flow in all business areas. The move comes as the company failed to reach all of its 2012 targets.

The Kalmar business area continued to be strong during the first half of the year, with a steady demand for smaller container handling equipment, but slowed towards the end due to increasing economic uncertainty in Europe. The Hiab brand also showed positive development, mainly in the US market, but slowed during the second half of 2012.

But, despite the challenging market, the MacGregor brand achieved a strong result, with a good order intake both in offshore and merchant shipping and the main target for the year, to improve profitability, was achieved as Hiab’s operating profit margin picked up in 2012.

The company hopes the restructuring will result in greater efficiency and lower fixed costs. It will also support the company’s preparations for the listing of MacGregor on an Asian stock exchange, which will enable the brand to develop its entire value chain and services.