MacGregor completes acquisition of Rapp Marine

CARGOTEC CORPORATION, PRESS RELEASE, 5 FEBRUARY 2018 AT 4 PM EET

MacGregor, part of Cargotec, has completed the acquisition of Rapp Marine Group (RMG) to strengthen its offering for the fishery and research vessel segment. MacGregor announced to acquire Rapp Marine in December 2017 for an enterprise value of approximately EUR 16 million.

"With MacGregor's Triplex deck handling portfolio we already today have a very strong position in the fishery and research vessel segment and the addition of Rapp Marine's team members and technologies further strengthens our position," states Høye Høyesen, Vice President, Advanced Offshore Solutions, MacGregor. "We look forward to a smooth integration into MacGregor family to serve our existing and new customers with innovative and well-supported offering," Høye Høyesen continues.

"Our team is happy to join MacGregor. Customers can benefit from the wider portfolio of safe and efficient equipment from one provider to their specific vessels," says Terje Arnesen, who leads the fishery and research business within Advanced Offshore Solutions at MacGregor.

RMG employs about 120 people with main locations in Norway, the USA and United Kingdom.

Further information for the press:
Høye Høyesen, Vice President, Advanced Offshore Solutions, MacGregor
Tel; +47 907 61 098, Email: hoye.hoyesen@macgregor.com

Heli Malkavaara, Senior Communications Manager, MacGregor
Tel. +358 20 777 4500, Email: heli.malkavaara@macgregor.com

Further information for investors:
Hanna-Maria Heikkinen, Vice President, Investor Relations, Cargotec
Tel: +358 20 777 4084, Email: hanna-maria.heikkinen@cargotec.com

MacGregor shapes the offshore and marine industries by offering world-leading engineering solutions and services with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes and Triplex brands. Shipbuilders, owners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.

MacGregor solutions and services for handling marine cargoes, vessel operations, offshore loads, crude/LNG transfer and offshore mooring are all designed to perform with the sea. www.macgregor.com

MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2016 totalled approximately EUR 3.5 billion and it employs over 11,000 people. www.cargotec.com