25.10.2016

Cost reductions at MacGregor

The MacGregor division of Cargotec is looking to make annual savings of around €25 million, which will include a headcount reduction of 10 percent, or around 260 employees. The company says the measures are required ‘to ensure long-term competitiveness in global markets and to continue the improvement of operational efficiency’.

It says the low price of oil has reduced demand for offshore load handling equipment. Demand for services has also declined as parts from decommissioned ships are increasingly being used for spare parts.
The cost savings are being sought through the planned restructuring of operations in Norway, China, Sweden, Finland and Singapore.

MacGregor president Michel van Roozendaal said: "Even in this challenging market situation MacGregor is the leading and the strongest player in the maritime cargo, mooring and load handling markets. As a result of these difficult but necessary actions we will become more agile and have strong competence to help our customers operate more efficiently."