Cargotec confirms future MacGregor sale

Based on an evaluation of options initiated in March this year, the board of directors has concluded that MacGregor will not be part of Cargotec’s portfolio in the future. Instead, it will focus on its core businesses of Hiab and Kalmar.

Cargotec reports that during the strategic evaluation, it became clear that there is considerable interest in MacGregor but will not sell at the moment owing to current uncertainty in the financial market combined with the early phase of MacGregor turnaround.

The board of directors has the timing of a sale under continual review and reports that, in the meanwhile, MacGregor will focus on improving the profitability of the business and has started a restructuring programme in its offshore business.

The board’s decision does not impact Cargotec’s outlook for 2022 published on 26 October in conjunction with the company’s interim report January – September 2022. Cargotec expects its comparable operating profit for 2022 to improve by €88 – 118 million from 2021 (from €232 million to €320 – 350 million).