Cargotec swoops on BMH

Interested parties will have to partially finance construction of the facility, although public investment of ?396.3m is also earmarked.

Subject to approval by competition authorities, Sweden-based BMH and its leading loading and discharging brands such as Nordstrom and Siwertell will be incorporated into Cargotec’s MacGregor business unit. BMH is currently owned by Catella Private Equity which bought the company from Babcock International Group in November 2003 with the aim of expanding into Asia as the bulk trades started to explode.

The strategy has clearly succeeded with Asia now accounting for over half of BMH’s sales and revenue estimated to rise to ?70m this year, compared with around ?40m when Catella bought the company. Cargotec said BMH’s ability to realise sales in Asia and strong presence in the bulk terminal and selfunloading sectors had been key factors in the decision to pursue a purchase.