Saturday, April 12, 2008

Cargotec Acquires Offshore Service Company in North America

Cargotec’s MacGREGOR business area providing marine cargo handling and offshore load handling solutions has signed an agreement to acquire US based Platform Crane Services International Inc.

The sales of the company in 2007 were approximately USD 16 million and the company employs 105 persons. The transaction is subject to due diligence. The parties have agreed not to disclose the transaction value. PCS was established in 1983 and, as well as its headquarters in Slidell, Louisiana, has offices in Lafayette, Houston and Del Carmen in Mexico. PCS specializes in the service, repair and maintenance of marine and offshore cranes with an emphasis on Gulf of Mexico installations. The product and service offering also includes inspections, load testing and installations. The acquisition complements MacGREGOR's existing offshore service offering in North Sea and Asia Pacific, and increases presence in the important Americas and Gulf of Mexico area.

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