Cargotec Expands into Offshore by Acquiring Hydramarine

Cargotec’s MacGREGOR business area providing marine cargo handling solutions has signed an agreement to acquire Hydramarine AS. Hydramarine is based in Norway and is the leading company in high-end area of offshore and sub sea load handling systems for the offshore vessel industry. Cargotec will acquire 90% of the company with the remaining shares being owned by employees. The acquisition is subject to competition authority approval.